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OBJE Forms New Subsidiary to Complete A-Plus Technologies Acquisition
Posted November 15, 2011
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SARASOTA, Fla.-- Obscene Jeans Corp. (OTCBB:OBJE) formed a new subsidiary company-Obscene Interactive, LLC-to complete the acquisition of emerging social media analytics firm A-Plus Technologies.
The acquisition of A-Plus Technologies isimportant to OBJE's plans to foster major company growth by entering the rapidly expanding social media market. The company's management expects the social media sector to continue to grow and mature at an accelerated clip, a view validated by today's launch of the first social media ETF, the Global X Social Media fund (SOCL).
"The launch of this new ETF is proof that social media is an established, global industry that is unquestionably on the rise," said OBJE CEO Paul Watson. "Not only have revolutionary platforms such as Twitter and LinkedIn changed the way we communicate, they're becoming major drivers of our economy, as well. This sector has nearly unlimited potential for expansion, making it the ideal niche for a growth-oriented company like OBJE."
A-Plus Technologies utilizes proprietary algorithms to collect valuable consumer trends and data from social media platforms, allowing clients to better market their products to targeted customers.
"A-Plus has an innovative business model and software that we believe could allow Obscene Interactive to begin turning a profit very quickly," Watson said. "By acquiring the company through the new subsidiary, we'll be able to retain full control and ownership over A-Plus while keeping our social media business separate and distinct from our fashion-related activities."
Obscene Interactive is a division of Obscene Jeans Corp. that develops innovative technology tools to service the fast-growing social media sector alongside companies such as Groupon, Inc. (NASDAQ:GRPN), Linkedin Corp. (NYSE:LNKD), Pandora Media Inc. (NYSE:P), and Cisco Systems (NASDAQ:CSCO).
About Obscene Interactive
Obscene Interactive (OTCBB:OBJE) is an emerging global developer of social media tools and applications. OBJE's cutting-edge technology platform enables its titles to be accessible to a broad audience of consumers all over the world, supporting multiple platforms for universal appeal. Obscene Interactive is focused on delivering the best in social media solutions to the mass market. For investment information and performance data, please visit www.ObsceneInteractive.com/investors.
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