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Bitzio, Inc. Completes Acquisition of DigiSpace Solutions, LLC(January 09, 2012)
SAN DIEGO, CALIFORNIA -- (Marketwire) -- 01/09/12 -- Bitzio, Inc. ("Bitzio" or "the Company") (OTCBB:BTZO) today announced that all obligations have been fulfilled and the Company has completed the acquisition of DigiSpace Solutions, LLC.
In 2011, Digispace was recognized as one of the fastest-growing private companies in America by Inc. Magazine. In 2010(1), it also made the prestigious ranking with its 3-year, 609% revenue growth, joining the ranks of other Inc. 500 companies such as Zappos.com, Go Daddy, Jamba Juice and Oracle. Each year, the ranking identifies companies whose outstanding achievements in their industry set them apart and make them one of today's entrepreneurial successes.
Experts are forecasting that mobile application downloads will rise from 10.9 billion in 2010 to 183 billion by 2015(2). "Securing the DigiSpace acquisition is a significant milestone in our growth strategy," said Gordon McDougall, CEO of Bitzio. "The powerful engine of Digispace, with their proprietary launch and optimization methodologies, significantly enhances our ability to capture a much broader scope of that market. We are delighted at our team's swift response to finalizing the acquisition."
(1) Inc. 500- 2010, Inc. Magazine, ?? 2011 Mansueto Ventures LLC.
(2) IDC Forecasts Nearly 183 Billion Annual Mobile App Downloads by 2015: Monetization Challenges Driving Business Model Evolution, June 28, 2011, International Data Corporation (IDC), published by Businesswire.
About Bitzio, Inc.
Bitzio, Inc. is focused on smartphone applications, social media and marketing optimization. We work directly with developers of mobile applications to dramatically improve their marketing reach, sales conversion, revenue and bottom line profits. We envision a mobile community where mobile applications enable people to connect in new and meaningful ways, and where Bitzio is a key driving force enabling these connections. For more information on the company, visit us at www.bitzio.com. To learn more about Bitzio, watch the video.
This news release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Canadian securities laws, including statements relating to earnings expectations for the 4th quarter and the full fiscal year; The terms and phrases "commitment", "guidance", "expects", "would", "will", "continuing", "drive", "believes", "indicate", "look forward", "grow", "outlook", "forecasts", and similar terms and phrases are intended to identify these forward-looking statements. Forward-looking statements are based on estimates and assumptions made by Bitzio in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that Bitzio believes are appropriate in the circumstances, including but not limited to general economic conditions, Bitzio's expectations regarding its business, strategy and prospects, and Bitzio's confidence in the cash flow generation of its business. Many factors could cause Bitzio's actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements, including, without limitation: risks related to competition; Bitzio's reliance on key personnel; Bitzio's ability to maintain and enhance its brand; and difficulties in forecasting Bitzio's financial results, particularly over longer periods given the rapid technological changes, competition and short product life cycles that characterize the mobile application industry. These risk factors and others relating to Bitzio that may cause actual results to differ are set forth Bitzio's periodic filings with the U.S. Securities and Exchange Commission. (copies of which filings may be obtained at www.sedar.com or www.sec.gov). These factors should be considered carefully, and readers should not place undue reliance on Bitzio's forward-looking statements. Bitzio has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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