MacroSolve’s digiTICKET™ Sold In Profitable Asset Transaction; Company to Focus On Mobile App Market Set for Explosive Growth
TULSA, Okla., February 17, 2010 - MacroSolve, Inc., (OTCBB:MCVE), a leading provider of mobile apps and solutions, announced today that it has sold its digiTICKET™ electronic ticketing product in an asset sale valued at approximately $450,000. $400,000 in cash was received by MacroSolve upon closing of the transaction on February 12. MacroSolve will receive an additional $50,000 in cash over a period of six months for product transfer support services. The sale of digiTICKET has freed up human and financial resources which MacroSolve is directly reinvesting in developing and launching new mobile business apps into the burgeoning $5 billion-plus business app market.
Since its development and launch in 2009, digiTICKET has quickly gained traction in the law enforcement market as a superior technology compared to competing solutions. The product has exceeded MacroSolve’s own internal timelines in terms of development, launch and market share.
“There’s been very strong demand for digiTICKET, which has resulted in an attractive asset sale for us. We’ve decided to sell the product in order to focus our company’s resources on the high growth mobile business app market where our apps are similarly gaining market traction. Current and future digiTICKET customers will continue to receive superior service through Saltus Technologies, LLC, the product’s new owner,” stated MacroSolve President and CEO, Clint Parr.
“Our core strength at MacroSolve remains developing and introducing mobility products that gain rapid market share. With the mobile app market for businesses projected to grow at double digits for the next five years, and reach $11.6 billion in sales by 2012, we are focusing all of our resources, including the income from this profitable sale, on becoming the leader in mobile business apps. Our business model generates high margin recurring revenues while delivering high value and ROI to our customers” added Parr.
MacroSolve recently launched DineInsight™, powered by ReForm XT™, designed exclusively for the restaurant industry. DineInsight is being adopted by a growing number of restaurants. DineInsight is the first in a series of vertical-specific mobile business apps that MacroSolve is to launch in 2010, powered by its ReForm XT platform.