BELLEVUE, Wash., Jan. 19, 2012 (GLOBE NEWSWIRE) -- Motricity
(Nasdaq:MOTR) announced today that it has taken significant
steps to reorganize the company in order to capitalize on
changing customer and market conditions. As part of the
realignment, the Company has decided to close its operations
in Asia. This shift will enable Motricity to concentrate
efforts on the burgeoning opportunity the Company sees in the
mobile advertising and enterprise space, while continuing
to
provide focused service to the largest carriers in North
America.
In addition to hiring sales resources to focus on market
opportunities in North America and expand its penetration
into carriers, the Company is also investing in product
development. Work is underway on the next version of products
designed to expand Motricity's current suite of
solutions and services.
"The past several months have been a period of
transformation for the company," said Jim Smith, interim
chief executive officer of Motricity. "We've made
considerable changes which I believe will lay the foundation
for long-term success and reignite growth. However, in order
to achieve our business objectives, we've had to make
some difficult choices, including streamlining and exiting
areas of our business that were no longer strategic or
profitable. I believe the strategy that we've since
adopted
now aligns with the strong market opportunity that exists in
mobile enterprise and advertising."
Throughout this period of transition, Motricity has remained
committed to driving growth, accelerating technological
innovation and increasing the speed to market for its
products and services.
"As a company, we have made significant adjustments to
our cost structure, organization and strategy. Given our
depth of talent, rich history in mobile and strategic focus
on mobile enterprise and advertising, I'm confident that
the changes we've instituted will help deliver enhanced
shareholder and customer value," said Smith.
About Motricity
Motricity (Nasdaq:MOTR) empowers mobile operators, brands and
advertising agencies to maximize the reach and economic
potential of the mobile ecosystem through the delivery of
relevance-driven merchandising, marketing and advertising
solutions. Motricity leverages advanced predictive analytics
capabilities to deliver the right content, to the right
person at the right time. Motricity provides their entire
suite of mobile data service solutions through one,
integrated, highly scalable managed service platform.
Motricity's unique combination of technology, expertise
and go-to-market approach delivers return-on-investment for
our mobile operator, brand and advertising agency customers.
For more information, visit
www.motricity.comor follow
@motricity on Twitter.
The Motricity, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=7813
Statements made in this release and related statements that
express the Company's or its management's
intentions, indications, beliefs, expectations, guidance,
estimates, forecasts or predictions of the future constitute
forward-looking statements, as defined by the Private
Securities Litigation Reform Act of 1995, and relate to
matters that are not historical
facts. They include, without limitation, statements related
to the realignment of our business, exit from our Asian
operations and cost and saving estimates related thereto, our
research and development activities, new products and hiring
efforts and the market opportunity in the mobile advertising
and enterprise space. These statements represent beliefs and
expectations only
as of the date they were made. We may elect to update
forward-looking statements but we expressly disclaim any
obligation to do so, even if our beliefs and expectations
change. Actual results may differ from those expressed or
implied in our forward- looking statements. Such
forward-looking statements involve and are subject to certain
risks and uncertainties that may cause our actual results to
differ materially from those discussed in a forward looking
statement. These include, but are not limited to risks
related to the sufficiency of our capital resources, the
success of the realignment of our business and the our
capital raising efforts, our dependency on a limited number
of customers, intense competition in the mobile data services
industry, including for skilled personnel, rapid
technological change in the mobile data services industry,
our ongoing leadership transition, our history of operating
losses and our results of operations and financial condition;
and other uncertainties described more fully in our filings
with the Securities and Exchange Commission.
CONTACT: Media Contact: Meghan Graves, (425) 638-8211
Meghan.Graves@motricity.com
Investor Relations Contact: Alex Wellins
The Blueshirt Group (415) 217-5861 alex@blueshirtgroup.com
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