LOS ANGELES, Calif. /CitizenWire/ -- Intellimedia Networks, Inc., a Los Angeles, California based immersive solutions technology company, today announced that certain of its IP has been acquired by Frontera Group, Inc. (OTC Pink: FRTG) ("Frontera" or "the Company"), a Dallas, Texas based technology-focused strategic acquirer of revenue-generating companies and intellectual property (IP), as part of its multi-part strategy to make further acquisitions from Intellimedia's suite of technology solutions.
This acquisition provides Frontera Group with a cutting-edge mix of media technology, learning platforms, and virtual event broadcasting technologies, positioning FRTG at the forefront of a new wave of immersive technology-powered content for a wide array of customers.
Intellimedia Networks has developed and positioned several multi-million-dollar IP assets focused on media, education, and virtual event broadcasting technologies suited for a variety of market verticals. The IP that Frontera has acquired includes immersive technologies using AR, VR, and interactive experiences that open doors to innovative ways to leverage information-sharing. This form of information sharing provides high-impact, context-sensitive experiences.
The 70/20/10 model for learning and development highlights that people learn from job-related experiences, as 70 percent of what people learn is experiential, compared with 20% learned from others and 10% through formal learning. FRTG's acquisition of Intellimedia's IP positions FRTG as a "knowledge enabler" supporting the "70%" of the experiential portion of learning.
"Intellimedia is thrilled with this M&A as our products and solutions are an ideal fit with the value-creation opportunity presented by Frontera. I believe our world-class solutions will continue to deliver exceptional value to customers, employees, and shareholders," said Darshan Sedani, President, and Co-founder of Intellimedia Networks.
"Our acquisition of Intellimedia Networks' IP places Frontera at the leading edge of the metaverse world of augmented reality, virtual reality, and interactive worlds that are poised to generate significant revenue in training and media technology applications. Frontera will participate in expanding a new mode of knowledge-sharing utilizing ROI-proven technologies," said Mr. Andrew De Luna, CPA, MBA, Interim Chief Executive Officer, Chief Financial Officer, and Vice Chairman of FRTG.
"We look forward to the growth and entry into new markets that the Frontera acquisition enables," said Teodros Gessesse, CEO and Co-founder of Intellimedia. "Our primary focus of developing platforms that deliver context-sensitive knowledge and information to our customers in media, training, and virtual event broadcasting will be greatly enhanced as a part of the Frontera Group."
Frontera's acquisition of Intellimedia Networks' IP provides FRTG with access to a broad market play for an accelerated entry into a NASDAQ listing. "We have a strategy to acquire and invest in companies that are the next wave of new technologies with a keen focus on applications that markets require and are ready to buy," said Mr. Mann Yam, Chairman of the Board of FRTG. "Intellimedia Networks has the intellectual property to get us into new and recurring revenue streams across several vertical markets."
About Frontera Group:
Frontera Group is a strategic acquirer of intellectual property and revenue-generating companies in the technology and human capital markets. It is developing and executing an aggressive, four-tier acquisition and implementation strategy intended to provide substantial increases in profitability to its acquisitions in industries which possess traditionally low and stagnant EBITDA multiples. The Company has identified and is currently pursuing several revenue-generating acquisition targets.
For further information, please visit Frontera's website at https://frtgtech.com/.
About Intellimedia Networks:
Intellimedia Networks is a US and India-based technology company that designs and deploys cloud platforms and applications that create immersive experiences. Intellimedia's award-winning products utilize AR, VR, and AI to enhance media, training, education, virtual event broadcasting, real estate, and other applications. For further information, please visit Intellimedia Networks' website at https://intellimedianetworks.com/.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
The statements contained in this news release which are not historical facts may be "forward-looking statements" that involve risks and uncertainties which could cause actual results to differ materially from those currently anticipated. For example, statements that describe eFRTG's hopes, plans, objectives, goals, intentions, or expectations are forward-looking statements. The forward-looking statements made herein are only made as of the date of this news release. Numerous factors, many of which are beyond FRTG's control, will affect actual Results. FRTG undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. This news release should be read in conjunction with FRTG's most recent financial reports and other filings posted with the OTC Markets and/or the U. S. Securities and Exchange Commission by FRTG.
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