NeoMagic Corporation (OTC: NMGC), today provided a business update on key strategic initiatives; Expansion of MercadoMagico brand, Maximizing value of Legacy Products and Strategic Merger and Acquisition opportunities.
MercadoMagico-US is happy to announce the addition of products for customer with a health-conscious lifestyle. These customers can now buy products from some of the premier providers of organic foods and supplements.
In a continuing effort to provide a personal touch to its customer experience and establish a differentiation from Amazon (AMZN) and eBay (EBAY), MercadoMagico-US has implemented live-chat and a toll-free number for its US-based customers.
Since its launch, MercadoMagico.com.mx has seen a steady and sustained increase in repeat traffic and visitor to traffic conversion ratio. A key factor in customer growth for MercadoMagico-MX has been establishing trust in the MercadoMagico brand in Mexico. A big component of this trust has been MercadoMagico-MX relationship with Estafeta and their ability to deliver customer purchases in a timely manner, within this underserved Spanish market.
“We are excited to be working with MercadoMagico toward a common goal: to offer reliable, comprehensive and well-known service to their customers in Mexico, that fits the quality and variety of products MercadoMagico offers to Mexico’s market,” said Jaime Ventura, VP Cross-border of Estafeta USA.
David Tomasello, VP of Strategic Planning and Chairman of NeoMagic Corporation added, “We are committed to growing MercadoMagico’s global revenue and brand awareness beyond U.S., Mexico and Venezuela. In fact, we are currently searching for partners in Spain, Argentina and Chile to launch MercadoMagico in those countries.”
Merger & Acquisition Opportunities
Although NeoMagic Corporation (NMGC) continues to successfully self-fund, it is committed to capitalizing on economic merger and acquisition opportunities. Therefore, the Company regularly evaluates strategic merger and acquisition opportunities in new markets, markets within its technology or in complementary markets.
The Company continues to maintain its core business with shipments of its legacy product line of MiMagic3 application processors. The Company’s goal is to continue to focus on identifying new opportunities to monetize existing MiMagic family products, to facilitate its ability to return to full-time financial reporting.
NeoMagic Corporation, headquartered in Silicon Valley, a pioneer in SOC (System On A Chip) and embedded dynamic random-access-memory (DRAM) technology, the integration of complex logic, memory and analog circuits into single-chip solutions, designed to offer the lowest power, smallest form-factor and best multimedia features and performance.
For more information, visit NeoMagic.com.
NeoMagic owns and operates MercadoMagico.com.
MercadoMagico is a registered trademark.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve significant risks and uncertainties. Such statements may include, without limitation, statements with respect to the Company's plans, objectives, projections, expectations and intentions and other statements identified by words such as "projects," "may," "could," "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "plans," or similar expressions. These statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties, including those detailed from time-to-time in the Company's filings with the Securities and Exchange Commission, including our Form10-K's, 10-Q and 8-K's for 2007 through the date of October 31, 2010 hereof have been made available to the Investor at www.sec.gov. Information for the period ending January 30, 2011 to the present is not available through the SEC due to the cessation of the Company’s required filings under the 1934 Act. Actual results, including, without limitation, the Company's ability to successfully raise capital may differ significantly from those set forth in the forward-looking statements. Forward-looking statements involve risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company's control). For example, statements about our expectations in connection with financings are subject to a variety of uncertainties and are subject to change as a result of changes in circumstances that could make it difficult for us to consummate such financings on terms acceptable to the Company, or at all. The Company undertakes no obligation to update any forward-looking statements, except as provided for by law.
NeoMagic is a registered trademark of NeoMagic Corporation and MiMagic is trademarked. All other trademarks are the property of their respective owners. NeoMagic disclaims any proprietary interest in the marks and names of others.
Press Release Service by Newswire.com
Original Source: NeoMagic (R) Corporation Provides Business Update