Bitzio, Inc. Completes Acquisition of Thinking Drone, Inc., Best Known as Free The Apps
Provides Bitzio a Leading Position in Mobile Apps Space
(firmenpresse) - SAN DIEGO, CALIFORNIA -- (Marketwire) -- 11/15/11 -- Bitzio, Inc. (OTCBB: BTZO) today announced that it has completed the acquisition of Thinking Drone, Inc., which does business as , an independent application developer for the iPhone and Android platforms. The acquisition further extends Bitzio's footprint into social media and smartphone markets.
Founded in 2009, Free The Apps has established a track record in generating high margin revenue and highly successful downloads with its top Apps. They have created numerous free apps, including "Top 10" overall apps featured in iTunes App Store. With over 34 million downloads and counting, some of Free The Apps' include and .
"Growing our mobile applications portfolio and number of downloads is a key focus for Bitzio," said Gordon McDougall, CEO of Bitzio. "With the completion of this acquisition, we have an increased position in a market that we believe has significant growth potential. I am very pleased we have put in place strong fundamentals to set Bitzio for substantial growth - a core management team of experts in internet marketing and mobile apps, and a portfolio of companies that will start adding to our bottom line."
Free The Apps joins Digispace Solutions, LLC and Bitzio Corp. as recent major acquisitions for Bitzio.
About Bitzio, Inc.
Bitzio, Inc. is a company with a strong focus on smartphone applications, social media and marketing optimization. We work 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 .
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Forward Looking Statement
This news release includes forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. While these statements are made to convey to the public the company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. Whereas management believes such representations to be true and accurate based on information and data available to the company at this time, actual results may differ materially from those described. The company's operations and business prospects are always subject to risk and uncertainties. Important factors that may cause actual results to differ are set forth in the company's periodic filings with the U.S. Securities and Exchange Commission.
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Mark Bernhard
Investor Inquiries
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Capital Group Communications, Inc.
Mark Gundy
Investor Inquiries
415.332.7200
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Datum: 15.11.2011 - 14:15 Uhr
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News-ID 88057
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