Move Enables Flexibility to Unlock Value
JERSEY CITY, N.J.--(BUSINESS WIRE)-- Single Touch Systems, Inc. (OTC BB: SITO), and its subsidiary Single Touch Interactive Inc. a technology based mobile media solutions provider that enables businesses, advertisers and brands to easily connect with customers through its patented technologies, announced today that it has begun consolidating its intellectual property (IP) assets, which include a current portfolio of 18 issued and additional pending patents related to mobile search, commerce, advertising and streaming media into a new wholly owned subsidiary, Single Touch Interactive R&D IP, Inc.
“We have made the strategic decision to consolidate our IP assets in a new wholly owned subsidiary, Single Touch Interactive R&D IP, Inc. This structure separates our developing IP related operations from the core services business of Interactive and positions us for expanding our activity in the IP segment of our business. Segregating these operations and the structure of a separate subsidiary provides us with additional flexibility to unlock the value of our growing portfolio of intellectual property,” added Anthony Macaluso Chairman and Chief Innovation Officer.
Single Touch Interactive Inc. (Interactive) is focused on its operating business which uses its patented technologies to provide mobile marketing and advertising services to its customers including some of the largest retailers in the U.S.
“Interactive’s operations continued to experience double digit revenue growth in fiscal year 2012. We are pleased with the organic growth in this segment of our operations and will continue to promote our innovative services to move marketers into mobile channels to monetize their products and brands,” stated Single Touch President and CEO, James Orsini.
About Single Touch Systems, Inc.
Single Touch Systems, Inc. (SITO) is a technology based mobile solutions provider serving businesses, advertisers and brands. Through patented technologies and a modular, adaptable platform, Single Touch’s multi-channel messaging gateway enables marketers to reach consumers on all types of connected devices, with information that engages interest, drives transactions and strengthens relationships and loyalty.
For more information about Single Touch Interactive, Inc. visit: www.singletouch.net
This news release may contain forward-looking statements that involve risks and uncertainties and reflect Single Touch’s judgment as of the date of this release. These statements may include those regarding strategy, growth and future operations. Actual events or results may differ from Single Touch’s expectations. The risks and uncertainties include reliance on brand owners and wireless carriers, the possible need for additional capital, as well as other risks identified in Single Touch’s most recent Form 10-K filing with the SEC. Single Touch disclaims any intent or obligation to update these forward-looking statements beyond the date of this press release, except as may be required by law.
Source: Single Touch Systems, Inc.