LOS ANGELES, April 29, 2022 /PRNewswire/ — Intellimedia Networks, Inc., a Los Angeles, CA based on immersive solutions technology, today announced that certain of its intellectual properties have been acquired by Frontera Group, Inc. (OTC Pink: FRTG) (“Frontera” or “the Company”), a Dallas, TX technology-focused strategic acquirer of revenue-generating companies and intellectual property (IP), as part of its multi-pronged strategy to complete further acquisitions from Intellimedia’s suite of technology solutions. This acquisition provides Frontera Group with a cutting-edge mix of multimedia technologies, learning platforms and virtual event delivery technologies, positioning FRTG at the forefront of a new wave of immersive technology-based content for a wide range of customers.
Intellimedia Networks has developed and positioned several multi-million dollar IP assets focused on media, education and virtual event delivery technologies suitable for a variety of vertical markets. The intellectual property that Frontera has acquired includes immersive technologies using augmented reality, virtual reality and interactive experiences that open the door to innovative ways to leverage information sharing. This form of information sharing offers high-impact contextual experiences. The 70/20/10 model for learning and development emphasizes that people learn from work-related experiences because 70% of what people learn is experiential, compared to 20% learned from others and 10% by formal learning. FRTG’s acquisition of Intellimedia’s intellectual property positions FRTG as a “knowledge facilitator” supporting the “70%” of the experiential part of learning.
“Intellimedia is excited about this merger and acquisition, as our products and solutions are a perfect fit for 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 Sedanipresident and co-founder of Intellimedia Networks.
“Our acquisition of the Intellimedia Networks intellectual property puts Frontera at the forefront of the metaverse world of augmented reality, virtual reality and interactive worlds that are poised to generate significant revenue in training and technology applications. Frontera will help expand a new way of sharing knowledge using proven ROI technologies,” said Mr. Andrew DeLunaCPA, MBA, Interim CEO, CFO and Vice President of FRTG.
“We look forward to the growth and entry into new markets that the acquisition of Frontera enables,” said Theodros Gessesse, CEO and co-founder of Intellimedia. “Our primary focus of developing platforms that provide knowledge and contextual information to our clients in media, training and virtual event delivery will be greatly enhanced within the Frontera Group.”
Frontera’s acquisition of the Intellimedia Networks intellectual property provides FRTG with access to a large market for accelerated entry into a NASDAQ listing. “We have a strategy of acquiring and investing in companies that are the next wave of new technologies with a particular focus on applications that markets demand and are ready to to buy,” said Mr. Mann Yam, Chairman of the Board of FRTG. “Intellimedia Networks owns the intellectual property to enable us to access new and recurring revenue streams across multiple vertical markets.”
About Frontera Group
Frontera Group is a strategic acquirer of intellectual property and revenue-generating businesses in the technology and human capital markets. It develops and executes an aggressive four-tier acquisition and execution strategy designed to deliver substantial increases in the profitability of its acquisitions in industries that traditionally have low and stagnant EBITDA multiples. The Company has identified and is currently pursuing several revenue-generating acquisition targets.
For more information, please visit Frontera’s website at https://frtgtech.com/.
About Intellimedia Networks
Intellimedia Networks is an American company and IndiaNew York-based technology company that designs and deploys cloud platforms and applications that create immersive experiences. Intellimedia’s award-winning products use augmented reality, virtual reality and artificial intelligence to improve media, training, education, virtual event broadcasting, real estate and other applications. For more information, please visit the Intellimedia Networks website at https://intellimedianetworks.com/.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
Statements in this press release that are not historical facts may be “forward-looking statements” that involve risks and uncertainties that 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. Forward-looking statements made herein speak only as of the date of this press release. Many factors, many of which are beyond FRTG’s control, will affect actual Results. FRTG undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances. This press release should be read in conjunction with FRTG’s most recent financial reports and other filings with the over-the-counter markets and/or the United States Securities and Exchange Commission by FRTG.
Intellimedia Networks Press Contact
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SOURCE IntelliMedia Networks