LOS ANGELES, CA / ACCESSWIRE / July 22, 2014 / Rocap Inc., (OTCQB: ROCP), announced today they have completed the acquisition of Spiral Toys, Inc.
Spiral has developed an integrated hardware/software/cloud solution that enables mobile-connected entertainment as part of their user experience. Spiral already has completed product development and has products in the marketplace, as well as an ongoing co-development agreement with a major entertainment studio.
The mobile-connected technology space is experiencing rapid growth. Leading companies like Google and Apple are investing heavily in mobile-connected productivity, fitness and home automation devices. But the mobile-connected entertainment market is still largely unaddressed. Spiral's technology creates connections for mobile-connected entertainment to physical products including toys, wearable's and games.
Spiral launched the sale of its initial product line Toy-Fi in June of this year. Launched first in Australia and then later next month in the United Kingdom with national television campaigns. Spiral's initial shipments totaled over 60,000 units of Toy-Fi products. Spiral ran a DR campaign with a US based company with a new product line called CloudPets, which ran on the Cartoon Network, Nickelodeon and Disney channels. Spiral is working with several key partners on launching the line later this year under a North American campaign.
Mr. Meyers is joined by Mr. Jorge Freitas as Rocap's Chief Technical Officer. Mr. Freitas brings with him significant experience as CTO of Propaganda Studio for Disney Interactive and Technical Director with Electronic Arts. He was most recently VP Operations at Kidzmart, Inc. a company focused at mobile promotion and marketing applications for apple and android devices.
This transaction allows Rocap to capitalize on Mr. Meyers, founder of Spiral Toys, vast experience and has appointed Mr. Meyers as the new CEO of Rocap. Mr. Meyers is the former VP of Product Development at Disney Interactive Studios where he led their studio system in the creation of several successful product lines in the PC, console, mobile game and toy space. In addition, he was the Studio General Manager at both Sony Computer Entertainment and Midway Games. Drawing on his seventeen years of experience in the video game and toy industries, Mr. Meyers understands what it takes to develop some of the world's best tween and kid video game entertainment.
After the acquisition of Spiral Toys Inc., the company divested Lexi Luu Designs, Inc., a in a move that further defines the Company's new direction.
"The divestment is part of our strategy to focus on our mobile technology business which is more inline with our overall growth strategy," says Gordon McDougall, Director of Rocap Marketing. "By divesting this company we are refining Rocap's business mission and are primed to attract and invest in areas that complement our newest acquisition, Spiral Toys. By divesting Lexi Luu, we will have a reduction of 2.5M shares by the CEO of Lexi Luu, from whom they were originally purchased. Both the divestment of Lexi Luu, and the acquisition of Spiral Toys make Rocap a stronger company moving forward."
Forward Looking Statements
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 expectations for the acquisition of Spiral Toys and its performance thereafter; The terms and phrases "expects", "would", "will", "believes", and similar terms and phrases are intended to identify these forward-looking statements. Forward-looking statements are based on estimates and assumptions made by Rocap Marketing Inc. in light of its experience and its perception of current conditions and expected future developments, as well as other factors that Rocap Marketing Inc. believes are appropriate in the circumstances. Many factors could cause Rocap Marketing's actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements. These risk factors and others relating to Rocap Marketing Inc. that may cause actual results to differ are set forth in Rocap Marketing Inc.'s periodic filings with the U.S. Securities and Exchange Commission (copies of which filings may be obtained at www.sec.gov). These factors should be considered carefully, and readers should not place undue reliance on Rocap Marketing Inc.'s forward-looking statements. Rocap Marketing Inc. 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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SOURCE: Rocap Marketing Inc.