CALGARY, ALBERTA--(Marketwire - Sept. 28, 2012) - GINSMS Inc. ("GINSMS") (TSX VENTURE:GOK) is pleased to announce that it has closed its acquisition of Inphosoft Group Pte. Ltd. (the "Acquisition") and is now awaiting the issuance by TSX Venture ("TSX-V") of its Final Exchange Bulletin. It is expected that trading in the common shares of GINSMS will commence two trading days after the issuance of the TSX-V Final Exchange Bulletin.
Mr. Jonathan Lai, the Chairman of GINSMS stated: "This is a very exciting moment in the life of the Company. Inphosoft's deployment capabilities targeting mobile operators, financial institutions, media companies and enterprises offer GINSMS the opportunity to unlock the full potential of its IOSMS platform and expand into a large variety of SMS related services in the mobile market not only in its own market but also in the rest of Asia and elsewhere". Mr. Lai goes on to say: "Indeed, with Inphosoft's proprietary technology in SMS message routing and resources, the Company expects to be able to reduce operating costs and increase efficiencies, enabling it to aggressively connect with operators overseas and create a new business revenue stream through international IOSMS routing".
Mr. Joel Chin, Chief Executive Officer of Inphosoft added, "With the completion of this transaction, Inphosoft's management will be single-minded in executing the Company's strategy to realize the synergies of the combined operations. In the next couple of months, both companies will focus on integrating their technology and business units to strengthen the Company's business development and sales capability, increase efficiency and reduce operation cost of its IOSMS business. This marriage is key to both our growth and diversification strategies and I am personally very excited to play a part in this game changing event."
GINSMS owns 100% of GIN International Ltd., a technology company focused on providing inter-operator short messaging services to mobile telecom operators in Hong Kong. GINSMS' stated business objective is to become a leading short messaging service ("SMS") and data hubbing service provider to mobile network operators in Hong Kong and China and to establish an international SMS and value added services business.
Inphosoft is a leader in providing innovative mobile data services and solutions in the areas of mobile advertising, mobile payment and banking, mobile service delivery platforms and mobile social networking services. Since its inception, Inphosoft has accelerated mobile data adoption through more than 100 deployments globally for mobile operators, financial institutions, media companies and enterprises. Inphosoft operates out of three offices in Singapore, Malaysia and Indonesia.
Caution Regarding Forward-Looking Information
This news release includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with GINSMS' business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by expressions such as "may", "could", "will", "expect", "intend", "estimate", "anticipate", "believe" or "continue" or the negative thereof or variations thereon or similar terminology. Forward-looking statements, by their very nature, involve significant risks, uncertainties and assumptions. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including, without limitation, the risks factors discussed in the section entitled "Risk Factors" in GINSMS' long form prospectus dated November 12, 2009 which is available under GINSMS' profile on SEDAR at www.sedar.com. Although the forward-looking statements contained herein are based upon what management believes to be reasonable assumptions, GINSMS cannot assure the reader that actual results will be consistent with these forward-looking statements. These assumptions are further described in GINSMS' management discussion & analysis for the nine-month period ended December 31, 2011, which is also available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and GINSMS assumes no obligation to update or revise them to reflect new events or circumstances except as may be required by law. Accordingly, readers should not place undue reliance on the forward-looking statements.
Completion of the transaction is subject to a number of conditions, including Exchange acceptance. There can be no assurance that the transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the Filing Statement to be prepared in connection with the transaction, any information released or received with respect to the proposed acquisition may not be accurate or complete and should not be relied upon. Trading in the securities of the Corporation should be considered highly speculative.
The Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
Neither the Exchange nor its Regulation Services Provider (as that term is defined in policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.