NeoMagic (R) Corporation signed LOI with a Latin American Investors Group ("LAIG") to Launch MercadoMagico.com e-commerce Sites in Venezuela, Peru and Columbia.
Investor Relations Information:
Rod Peterson
NeoMagic Corporation
Vice President, Administration and Information
(408) 428-9725
NeoMagic (R) Corporation signed LOI with a Latin American Investors Group ("LAIG") to Launch MercadoMagico.com e-commerce Sites in Venezuela, Peru and Columbia.
San Jose, California - March 18, 2013, MercadoMagico.com, a division of NeoMagic Corporation (NMGC), today announced it has signed a Letter of Intent (LOI) with a Latin American Investors Group ("LAIG") led by Gustavo Rodriguez, to launch MercadoMagico e-commerce sites in Venezuela, Peru and Columbia (www.mercadomagico.com.ve, www.mercadomagico.com.co, www.mercadomagico.com.pe). These three sites will be operated and maintained by ("LAIG") and MercadoMagico.com US will provide guidance and support. All these sites including the US main site www.MercadoMagico.com, will provide links to each other and work in collaboration.
"We are very excited with this engagement and are looking forward to building a solid e-commerce platform and ecosystem internationally, and expanding MercadoMagico business and name brand," said David Tomasello, Chairman of NeoMagic Corporation. He continued, "This will be our first and significant step in the fast growing Latin on-line and e-commerce market outside of the United States." NeoMagic owns MercadoMagico domains that are available for further expansion in Latin markets including Europe and other countries of Latin America.
Since the launch of the multi-vendor site, MercadoMagico.com has significantly increased the number of product categories, signed several new vendors and the list is growing. MercadoMagico.com now offers thousands of products, that also include unique and competitively priced items.
MercadoMagico.com is offering free vendor sign up and has improved several of its e-commerce tools for Sales Report generation views, Sales tracking, Powerful Search Engine and much more.
For more information, please contact Investor Relations at IR@neomagic.com
About NeoMagic
NeoMagic designs and delivers consumer electronic device solutions with semiconductors and software for video, television, imaging, graphics, and audio. We provide low cost, innovative chip technology for tomorrow`s entertainment and communication needs. Our solutions offer low power consumption, small form-factor and high performance processing. As part of our complete system solution, we deliver a suite of middleware and sample applications for imaging, video and audio functionality, and we provide multiple operating system ports with customized drivers for our products. Our product portfolio includes semiconductor solutions known as applications processors. Our applications processors are sold under the "MiMagic" brand name with a focus on enabling high performance processor within a low power consumption environment. The Company has developed the Horizon Digital Picture Frame kit using our MiMagic 6+ application processor.
Our capabilities give our partners and their customers` high quality answers to excite and enhance the consumer`s lifestyle. For more information, visit www.neomagic.com.
NeoMagic owns and operates MercadoMagico.com.
MercadoMagico is a registered trademark.
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Source: Neomagic Corporation via Thomson Reuters ONE
