NEW YORK--(BUSINESS WIRE)--Please replace the release with the following corrected version due to multiple revisions.
The corrected release reads:
MASSIVE INTERACTIVE OUTLINES AGGRESSIVE GLOBAL GROWTH STRATEGY
-Firm receives significant investment from Southport Lane and announces public listing
Massive Interactive Inc. (OTCQB:HUGE), a leader in platform software and design for multi-screen entertainment, announced its shares are now traded on OTCMarkets.com under the ticker symbol ‘HUGE’.
The listing comes after a subsidiary of Southport Lane, LP (“Southport”), a New York private equity fund, acquired a majority stake in Massive. The Southport acquisition will allow Massive to execute its growth strategy and innovative product roadmap into 2014 and build on its position in the telecommunications, broadcast, hospitality and airline sectors worldwide.
“We are delighted about this new opportunity with Massive,” said Southport Lane Co-Founder and Head of Private Equity, Andrew Scherr. “Not only is the company an innovator in the ‘TV Everywhere’ sector, but it has a highly experienced and capable management team who have built a profitable company over the last 17 years. We believe that our investment will place Massive in an even better position to expand.”
Massive CEO Ron Downey said, “We are thrilled to have Southport’s team now working with us to accelerate our success in the ‘TV Everywhere’/on-demand sector which, we believe, is one of the most exciting and fast-moving industry categories in the world.”
Downey continued: “Southport Lane’s investment and our public listing will enable us to expand Massive’s current service offering around the world and assist in the launch of our new managed multi-screen video service delivery platform, Massivision, which will be previewed at CES (Las Vegas) in January. Massivision will deliver an end-to-end, enterprise-grade solution for content owners and distributors, of any size, to deliver multi-device video entertainment services to their consumers.”
Safe Harbor Language: FORWARD-LOOKING STATEMENTS: Statements included in this press release that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 (the “1995 Act”). Words such as “believe,” “expect,” “anticipate,” “intend,” “look forward,” “opportunities,” “potential,” and similar expressions identify forward-looking statements. The Company cautions readers that forward-looking statements reflect the Company’s current expectations and assumptions that are subject to certain risks and uncertainties which could cause actual results to differ materially from those projected in the forward-looking statements. Statements made herein are made in reliance on the safe harbor for forward-looking statements contained in the 1995 Act. The Company assumes no obligation to update or revise any forward-looking statements made herein or any other forward-looking statements otherwise made by the Company.
ABOUT SOUTHPORT LANE:
Southport Lane is a New York based financial services firm specializing in private equity, asset management, and insurance services. Southport Lane was founded in 2010 and has over $5 billion in assets under management. For more information go to: www.southportlane.com.
ABOUT MASSIVE INTERACTIVE (OTCQB:HUGE)
Massive serves Tier 1 telcos, cable operators, broadcasters, cinemas, hotels and airlines worldwide with offices in New York, London, Sydney and Prague. Clients include the BBC, Sky, British Telecom, Deutsche Telekom, Telstra, Foxtel, Rogers, Channel 5 (UK), Emirates, Virgin Atlantic, Qantas, Singapore Airlines and many more. For more information, visit: www.massiveinteractive.com.
