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LAS VEGAS, Oct. 18, 2013 (GLOBE NEWSWIRE) -- Xumanii (OTCQB:XUII) announced that it will change its name to Imerjn. The change of name will only be a DBA (doing business as) of the existing name and will not result in a change in the Company's symbol. The Company intends to register the DBA with the Nevada Secretary of State within the next two days. Future references to the Company will be made using the name Imerjn.
Imerjn CEO, Adam Radly, said, "The name will be our brand so we wanted a name that was original and reflected the personality of the company going forward as well as the products that we will develop. The name is a play on the word immersion. We are transitioning into a new world where we will be even more immersed in technology and the technology will be so intelligent you won't know it's there. That's the technology and market segment that we will be targeting."
The Company also launched its new website today (
www.Imerjn.com ). The information on the website is currently limited but will be expanded significantly over time. Effective immediately the old website will only serve as the website for the Xumanii live event streaming business unit. Information for investor relations will not be provided on the old website and will only be provided on the new website. Any shareholder enquiries should be directed to the new website.
The Company will also take this opportunity to provide more detail regarding its short and long term strategy. Imerjn will focus on developing mobile solutions including mobile apps and the core focus will be on mobile solutions for asset tracking. The Company will seek to differentiate itself by utilizing RFID and other tracking technologies.
The market for apps is large and growing. According to research released by Gartner in September 2013, current trends in smartphone adoption will drive 102 billion app store downloads this year. 90 percent of them will be from Apple's App Store and Google Play. This will lead to global app revenues of $26 billion in 2013. By 2017, Gartner projects that there will be 268 billion downloads annually, amounting to $77 billion in revenue. Downloads will grow 2.6 times in the next four years, while revenues are increasing 2.9-fold.