For immediate release 26th September 2005
IncaGold plc ("IncaGold" or "the Company"), a world-wide provider of mass-market, impulse purchase priced entertainment software, announces it has acquired UK-based GP Mob Limited ("GPM"), a distributor of games, ring tones and graphics to mobile phone handsets, for a total consideration of £100,000 in shares.
GPM offers mobile phone users a download system for games and other content for their mobile phone handsets. This system gives IncaGold access to the off-portal direct to consumer market and allows the Company to publish mobile phone games in retail stores as well as download systems through unique download codes.
Sales using GPM's system with IncaGold's games content will go live in Italy via Electronic Point of Sales (EPOS) systems owned by Italian customer Fin Presto S.p.A. or their partners, whereby users purchase a code allowing them to download a game, via SMS text message and GPRS delivery. By the end of the month, Finpresto expect to have the system running on 10,000 EPOS systems across the country, with planned expansion to the company's 15,600 systems across Italy and 128,000 across Europe.
The service will initially offer ten titles including 'Mobile Grand Prix', 'Real Soccer', and 'Micro Pool'. This will be rolled out in stages, initially through 3,000 EPOS systems in Italy, expanding to 10,000 by the end of September, and potentially to Fin Presto's 15,600 systems in Italy and a total of 128,000 systems across Europe.
The system can be extended using any telecom infrastructure that enables SMS and content installation on mobile devices allowing easy expansion to all major European territories. The company has a significant platform on which to build in both Italy, where each unit will retail at 2.99 through EPOS systems, and Germany, with boxed mobile phone retail sales that will retail at 4.99.
Richard M. Holmes, Chief Executive Officer of IncaGold plc said: "The acquisition of GPM moves us into the distribution of mobile gaming products for the first time and firmly positions the Company in an exciting growth area providing a direct route to market for our current and future mobile phone product catalogue. It allows us to sell mobile phone games to users across tens of thousands of retail outlets."
Richard M. Holmes, Chief Executive Officer
Tel: +44 1624 611 033
Binns & Co PR Ltd
Ben Knowles - 020 7153 1487
IncaGold plc is a world-wide provider of mass-market, impulse-purchase, priced entertainment software. Founded in 1996, the Company has licensed or published products in 75 countries through a variety of channels. Headquartered in the Isle of Man, IncaGold also operates an office in Switzerland. The company joined AIM in May 2005. For more information visit www.incagold.com.