Swiss Mobile Application Pioneer NINJ sold to US Company

28.06.2012

Star Entertainment Group, Inc. announced today the closing of the acquisition with NINJ GmBH by its wholly owned subsidiary Tranzistor Systems Inc. NINJ is a pioneer in developing ground breaking mobile technology since 2005.

NINJ, a company based in Zurich, is known for its app VirtualRadio. VirtualRadio was first released in 2005 and has quickly become a top rated phone app in Europe, Asia and the Emerging Markets. The app has been downloaded more than 4,000,000 times and attracts a regular monthly user base of approx. 80,000 listeners. VirtualRadio is available as an Android, iPhone, Symbian and Java based app.

NINJ was now bought by Tranzistor Systems an internet radio and discovery platform for music and a subsidiary of Star Entertainment Group. "We are very happy to have found a home with Tranzistor Systems and Star Entertainment Group and look forward to creating a very incredible platform in concert with Tranzistor Radio and the continuation of our VirtualRadio product," said Oliver Wehrli, General Manager of NINJ.

"How fortunate are we to be able to work with the team at NINJ- the true pioneers of internet radio. Oliver and his team are some the most capable engineers in this specific niche in the world. I welcome them whole heartedly and look forward to building incredible products with them," Josh Eikov, President of Tranzistor Systems and CEO of Star Entertainment said.

The acquisition was completed by way of Preferred shares and was booked at approximately $3,000,000.00 in value.

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