LAS VEGAS, Oct. 11, 2012 /PRNewswire/ -- NANOTECH ENTERTAINMENT (PINKSHEETS: NTEK) is pleased to announce it has completed a multi-million dollar partnership agreement with private investment firm FS Global Capital, for a stake in its privately held mobile app development company. The partnership will allow NanoTech to quickly expand into mobile phone and tablet app market. NanoTech will leverage its revolutionary new proprietary technology in several exciting new apps to be released this fall. NanoTech's customer base will greatly expand as it releases unique "must have" apps for Android, iPhone and BlackBerry customers, which dominate the multi-billion dollar global app market.
"This transaction gives us the exclusive rights to proprietary Technology as well as unique apps for the most popular phones," stated NanoTech CEO Jeffrey A. Foley. "The NanoTech Communications business unit will develop and publish apps and license its technology for the mobile market, which is now over-taking the computer market as the most popular format for people to meet their information, retail, entertainment, and educational needs. We will be releasing our new phone and tablet apps in the near future as well as adding some of our gaming and digital TV content to the mobile space, allowing us to cross pollinate our assets amongst multiple markets."
According to recent statistics gathered by the Forrester Research Group, it is projected that by 2016 consumers will spend about $1.3 trillion with this software which will generate $56 billion in the mobile app market. "NanoTech is strategically positioned to assert its place in this mobile app explosion. With over 1.08 Billion smartphones in use, we are opening up our potential customer base dramatically with these new products," stated Foley. "Smartphone users worldwide will download more than 45 billion apps this year, nearly twice the number of apps that were downloaded in 2011, according to new data from Gartner Research Group, in a clear sign of just how quickly the demand for apps is growing. By 2019 they estimate that there will be more than 300 billion apps downloaded annually, or more than 10 times the amount that were downloaded in 2011."
The emergence of the multi-billion dollar mobile applications market is not only revolutionizing the software industry, it's also having a profound impact on the national economy as well, a new study by the Association for Competitive Technology (ACT) declared. The growth of startups and new businesses to support this mobile apps ecosystem, which is predicted to top $100 billion by 2015, has also led to significant job creation during an otherwise troubled economic period the survey found. "The app marketplace is quickly expanding and creating opportunities all across America. The massive growth of startups and the rapid emergence of new business models demonstrate that the app economy is strong and will be an economic force for years to come," stated ACT executive director Morgan Reed.
Foley concurs, "Because mobile apps assist us in every facet of our lives, we are forging a perpetual and permanent relationship with this technology which, in turn, contributes to our overall prosperity. NanoTech is eager to contribute its share of uniquely satisfying and useful apps to the mobile app ecosystem. This partnership gives us exclusive rights to the most innovative proprietary mobile phone technologies for the latest crop of smartphones including iPhones and Android phones." NanoTech's new revolutionary technology includes several unique features that will be highlighted in our upcoming releases into the mobile market.
About NanoTech Entertainment
Headquartered in Las Vegas, NV, NanoTech Entertainment is a technology company that focuses on all aspects of the entertainment industry. With three business units, focusing on Gaming, Media & IPTV and Mobile Apps, the company has a unique business model. The company has a diverse portfolio of products and technology. NanoTech Gaming Labs operates as a virtual manufacturer, developing its technology and games, and licensing them to third parties for manufacturing and distribution in order to keep its overhead extremely low and operations efficient in the new global manufacturing economy. NanoTech Media develops proprietary technology which it licenses to publishers for use in their products as well as creating and publishing unique content. NanoTech Communications develops and sells proprietary apps and technology in the Mobile and Consumer space. NanoTech is redefining the role of developers and manufacturers in the global market. More information about NanoTech Entertainment and its products can be found on the web at www.NanoTechEnt.com.
"Safe Harbor" Statement: Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from new products in development are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. Since this information may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results.
The NanoTech Entertainment logo is a trademark of NanoTech Entertainment, Inc. The NanoTech Communications logo is a trademark of NanoTech Communications Corporation. All rights reserved. All other marks are the property of their respective owners.
Contact: Denise Clifford
Phone: (702) 518-7410
SOURCE NanoTech Entertainment