SANTA BARBARA, Calif., April 27, 2015 (GLOBE NEWSWIRE) -- StreamTrack, Inc. (STTK) ("StreamTrack" or the "Company") today announced that it has entered into an Exchange and Asset Purchase Agreement with Lux Digital Pictures GmbH Partners (Lux).
Under the terms of the Agreement, StreamTrack shall acquire all right, title and interest in multiple assets including sportsalert.com and ampedfantasy.com. Traditional fantasy sports games have been an integral part of the sports industry for decades. Now, the rapidly expanding "daily fantasy sports" or "DFS" industry is quickly becoming the new alternative with sports fans. Industry leaders have reported annual growth of daily fantasy sports of close to 300% over the past several years, with in excess of 40 million active players. Providing additional audio and video content such as scores, news, stats and competitive video gaming enables StreamTrack to engage fans and enthusiast across all sports.
StreamTrack CEO Michael Hill stated: "This Agreement gives StreamTrack a fully functional daily fantasy sports platform along with a powerful alert based system for multiple sports. With www.sportsalert.com we not only acquire a valuable and familiar domain but we also acquire an active member base of over 100,000 registered users, and immediately have reach into a highly synergistic audience with daily fantasy sports. Furthermore, completing this deal is a major step forward in strengthening the Company's relationship with Global Gaming Network (GBGM.PK), who has agreed to apply the Amped Fantasy brand to its business applications for casinos, restaurants, clubs and sports bars."
The Assets include:
1. The infrastructure (i.e. source code, email and SMS alert system) of SportsAlert.com, a subscriber based alert system for various sports and related social media accounts.
2. The infrastructure (i.e. source code, automated gaming system, and rosters) of the Ampedfantasy.com website, a daily gaming fantasy sports website for the NFL & MLB.
3. Over 100,000 registered users of SportsAlert.com and all registered users of Ampedfantasy.com consisting of any and all registered information including email addresses and prior transaction history and related social media accounts.
4. Intellectual property rights, contracts and agreements, websites (design and software), physical and other marketing materials, artwork, internet servers, modems, and more for both SportsAlert.com and Ampedfantasy.com.
5. A total of 29 domain names in the sports and fantasy related industries.
About StreamTrack, Inc. StreamTrack, Inc. (the "Company") is a daily fantasy sports and digital media technology services company. The Company through ampedfantasy.com has entered the rapidly growing daily fantasy sports industry. Through sportsalert.com the Company owns a subscriber based alert system for various sports with over 100,000 registered users. The Company also provides audio and video streaming and advertising services through its RadioLoyalty™ Platform (the "Platform") to over 5,000 internet and terrestrial radio stations and other broadcast content providers. The Platform consists of a web-based and mobile player that manages streaming audio and video content, social media engagement, display and video ad serving within the web player and is also capable of replacing audio ads with video ads within the web player in a live or on-demand environment. The Company offers the Platform directly to its broadcasters and integrates or white labels its technologies with web-based internet radio guides and other web-based content providers. The Company is also continuing development of WatchThis™, a patent-pending technology to provide web, mobile and IP television streaming services that are e-commerce enabled within streamed content.
Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates and projections about StreamTrack's industry, management's beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of the Company may differ materially from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. Readers should review carefully reports or documents the Company files periodically with the Securities and Exchange Commission.
Chairman and Chief Executive Officer
CONTACT: Michael Hill Chairman and Chief Executive Officer firstname.lastname@example.org +1 805-308-9151 Source:StreamTrack, Inc.