Migo Announces Promotion and Completes Integration of Recent Acquisitions
- Ola Ajayi Elevated to Vice President of Products -
- Company Consolidates Operations in Redwood City, CA Headquarters Resulting in Expected Annualized Savings of over $1.4 Million -
REDWOOD CITY, CA, December 7, 2007-- Migo Software, Inc. (OTCBB:MIGO), a global provider of content mobility software, today it has promoted Ola Ajayi to vice president of products. In addition, the company announced a reorganization consolidating assets purchased in two recent acquisitions, and that going forward, all operations will be directed from Migo's corporate headquarters in Redwood City, California.
"I am pleased to announce Ola's promotion," said Kent Heyman, Migo's CEO. "Ola has been an outstanding contributor to the growth of Migo, and he is key to the anticipated launch of products developed from the RoundhouseTM Content Mobility Platform, our new, integrated technology expected to fuel the mobilization, access and consumption of content across a wide variety of synchronized mobile devices, computers and online services. This initiative is core to Migo's strategy of providing content mobility, access and device connectivity and is expected to drive growth in 2008."
"With the acquisition integrations behind us, Migo has eliminated operational redundancies and established a cost structure that more appropriately reflects the size of our business," said Heyman. "These actions include consolidating our customer service operations and portions of our engineering and sales efforts, which were based in Tennessee and various California locations, and the closing of a satellite office in Mountain View, California, which, taken together, reduced our staffing by fourteen individuals. As a result of these actions, we expect to realize annualized savings of approximately $1.4 million which will assist our goal of becoming a profitable company."
About Migo Software, Inc.
Located in Redwood City, CA, Migo Software, Inc. (OTCBB:MIGO) is a global provider of content mobility software. With its range of patent-pending technology, the Company's product lines range from content synchronization and security to device optimization solutions for mobile devices and PCs. The company sells its products through a variety of OEMs including PC, Mobile Handset, USB Drive, SD Card and others, as well as via a variety of retail outlets. Migo's products can also be found at www.migosoftware.com
NOTE: All product names, whether of Migo Software, Inc. or other companies mentioned, may be trademarks or registered trademarks of their respective holders and are used for identification purposes only.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
Under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, information contained in this press release that does not constitute historical facts are forward-looking statements. These statements include statements that refer to Migo Software's plans, prospects, expectations, strategies, intentions, hopes and beliefs; and the expected benefits of the use of Migo Software products. These forward-looking statements are not historical facts and are only estimates or predictions. Actual results may differ materially from those projected as a result of commercialization and technological difficulties and other risks and uncertainties detailed from time to time in the Company's Securities and Exchange Commission filings. Any forward-looking statements are based on information available to the Company today, and the Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of future events, new information or otherwise.
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