Welcome!

Linux Containers Authors: Pat Romanski, Liz McMillan, Elizabeth White, Flint Brenton, John Esposito

News Feed Item

TransGaming Corporate Update

TORONTO, ONTARIO -- (Marketwire) -- 11/26/12 -- TransGaming Inc. (TSX VENTURE:TNG), would like to address the concerns evident in the marketplace regarding the current state of the business. The company's management, board, and employees are all committed and focused on ensuring the ongoing growth of TransGaming. We recognize and hear the questions and concerns raised by our shareholders regarding our cash flow and we have taken steps to restructure the company towards achieving an even more streamlined organization, with a reduced cost base. A number of alternatives remain under consideration, but for now we believe these steps will allow us to reach our goal of break-even by Q3 or Q4 of this fiscal year.

The business itself has demonstrated ongoing strength with a compounded annual growth rate in revenue in excess of 30% in the past 5 years. Even our detractors have cited significant revenue growth projections for this current fiscal year (2013), which we are on target to achieve.

As part of the effort to streamline the company, we have recently completed a major internal restructuring that has now organized the business into two P&L verticals: i) The Graphics & Portability Group (GPG) which handles all of our licensing of core IP related to Cider and SwiftShader; ii) The Digital Media Group (DMG) which handles all of our in-home content and digital distribution. We have integrated our acquired iTV business unit and our GameTree TV business unit together into a single unified division to leverage common resources and talent pool. Both groups operate as their own P&Ls and are being measured against internal budgets and forecasts. Additionally, over the last 2-3 quarters, we have implemented a 30% reduction in headcount to reduce expenses along with other cost constraining measures.

We have strong growth prospects ahead of us, which are outlined below.

For our Graphics and Portability Group:


--  This business segment has not received attention from shareholders but
    continues to grow and generates high margin revenues. 
--  We are working on a number of new Mac titles, on an ongoing basis, and
    these titles are generating both upfront revenues as well as back-end
    revenue shares. 
--  Our MMO games are performing well and gaining traction. The recently
    announced Guild Wars 2 online game is exceeding user targets and will
    drive revenues in the coming quarters. 
--  We have a long-term business relationship with companies like EA and
    Disney that bring a continual flow of new titles. 
--  We have major licensing negotiations underway for our core IP with both
    Cider and SwiftShader that we expect to close within Q3. 
--  Overall, we expect our GPG group to generate strong revenues in FY2013
    and to be profitable as a business unit.

For our Digital Media Group:


--  We recognize that GameTree TV deployments have taken considerably longer
    then originally anticipated. The slower pace arises from the current
    economic slowdown being experienced globally that has caused major
    operators to become more conservative with their CapEx spending. That
    said, TransGaming continues to negotiate new agreements and has seen the
    level of activity increase. 
--  Our SelecTV deployment is moving forward positively, albeit behind
    schedule. The initial deployment plan was with a series of hotels in
    Asia. However, SelecTV now has major hotels within the Toronto and the
    broader Canadian market and both parties deemed it to be more effective
    and efficient to begin deployments in TransGaming's home territory
    instead of Asia. More information about the specific hotels will be
    released early in the new year. 
--  We are in active negotiations on the commercial agreement with a major
    European service provider. We expect to execute an agreement early in
    2013 and commence integration with a new operator towards launch with H1
    calendar 2013.  
--  We are actively working with the East Asian operator deployment
    (announced June, 2012) and expect them to be ready to launch within the
    second quarter of calendar 2013. 
--  Our Asian partner relationship is now entering the negotiation stage of
    full commercial terms. We are actively reviewing business terms and
    legals and expect to execute a definitive agreement early in the new
    calendar year. 
--  We are imminently releasing a major update to Free which includes a
    complete overhaul on the GameTree TV client and transitions the service
    to a subscription only model at EUR4,99. This will improve the overall
    ARPU for the GameTree TV service and this updated client will be
    deployed on all upcoming new service providers. 
--  We released a major update with DISH Network in October that has been
    received very well and will provide increased revenues with higher ARPU.
--  Overall, and to reiterate, the GameTree TV business has taken longer to
    materialize then projected. However, TransGaming today has 5 service
    providers that we are actively working with or striving to launch by Q2
    of calendar 2013. We are also front-loading our payment schedule with
    new launches so that the service providers cover development and
    integration fees. Between existing customers and new agreements being
    signed, TransGaming has the largest Connected TV distribution footprint
    in the world.

Finally, to strengthen the balance sheet, TransGaming is working with our investment bankers and financial institutions to evaluate a range of options that will provide the markets with the comfort that the company's current liquidity risk will be reduced.

We delivered a record FY13 Q1 and we expect continued strength in Q2, and the following quarters, towards a fiscal year that will be marked by the greatest year-over-year growth to-date. Therefore, we remain bullish about the company's future prospects.

About TransGaming Inc.

TransGaming Inc. (TSX VENTURE:TNG) is the global leader in the multiplatform deployment of interactive entertainment. TransGaming works with the industry's leading developers and publishers to enable and distribute games for Smart TVs, next-generation set-top boxes, Mac computers, and Linux/CE platforms. TransGaming is headquartered in Toronto, Canada.

Forward-Looking Statements

This news release contains forward-looking statements. Actual events or results may differ materially from those described in the forward-looking statements due to a number of risks and uncertainties, including changes in financial and product market conditions. Forward-looking statements are based on management's estimates, beliefs, and opinions. The Company assumes no obligation to update forward-looking statements, other than as may be required by applicable law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@ThingsExpo Stories
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform and how we integrate our thinking to solve complicated problems. In his session at 19th Cloud Expo, Craig Sproule, CEO of Metavine, will demonstrate how to move beyond today's coding paradigm ...
The cloud market growth today is largely in public clouds. While there is a lot of spend in IT departments in virtualization, these aren’t yet translating into a true “cloud” experience within the enterprise. What is stopping the growth of the “private cloud” market? In his general session at 18th Cloud Expo, Nara Rajagopalan, CEO of Accelerite, explored the challenges in deploying, managing, and getting adoption for a private cloud within an enterprise. What are the key differences between wh...
SYS-CON Events has announced today that Roger Strukhoff has been named conference chair of Cloud Expo and @ThingsExpo 2016 Silicon Valley. The 19th Cloud Expo and 6th @ThingsExpo will take place on November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. "The Internet of Things brings trillions of dollars of opportunity to developers and enterprise IT, no matter how you measure it," stated Roger Strukhoff. "More importantly, it leverages the power of devices and the Interne...
"We work in the area of Big Data analytics and Big Data analytics is a very crowded space - you have Hadoop, ETL, warehousing, visualization and there's a lot of effort trying to get these tools to talk to each other," explained Mukund Deshpande, head of the Analytics practice at Accelerite, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
The idea of comparing data in motion (at the sensor level) to data at rest (in a Big Data server warehouse) with predictive analytics in the cloud is very appealing to the industrial IoT sector. The problem Big Data vendors have, however, is access to that data in motion at the sensor location. In his session at @ThingsExpo, Scott Allen, CMO of FreeWave, discussed how as IoT is increasingly adopted by industrial markets, there is going to be an increased demand for sensor data from the outermos...
UAS, drones or unmanned aircraft, no matter what you call them — this was their week. Our news stream was flooded with updates on the newly announced rules and regulations for commercial UAS from the FAA. So, naturally we have dedicated this week’s top news round up to highlight some of our favorite UAS stories.
Internet of @ThingsExpo has announced today that Chris Matthieu has been named tech chair of Internet of @ThingsExpo 2016 Silicon Valley. The 6thInternet of @ThingsExpo will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
CenturyLink has announced that application server solutions from GENBAND are now available as part of CenturyLink’s Networx contracts. The General Services Administration (GSA)’s Networx program includes the largest telecommunications contract vehicles ever awarded by the federal government. CenturyLink recently secured an extension through spring 2020 of its offerings available to federal government agencies via GSA’s Networx Universal and Enterprise contracts. GENBAND’s EXPERiUS™ Application...
Basho Technologies has announced the latest release of Basho Riak TS, version 1.3. Riak TS is an enterprise-grade NoSQL database optimized for Internet of Things (IoT). The open source version enables developers to download the software for free and use it in production as well as make contributions to the code and develop applications around Riak TS. Enhancements to Riak TS make it quick, easy and cost-effective to spin up an instance to test new ideas and build IoT applications. In addition to...
In addition to all the benefits, IoT is also bringing new kind of customer experience challenges - cars that unlock themselves, thermostats turning houses into saunas and baby video monitors broadcasting over the internet. This list can only increase because while IoT services should be intuitive and simple to use, the delivery ecosystem is a myriad of potential problems as IoT explodes complexity. So finding a performance issue is like finding the proverbial needle in the haystack.
When people aren’t talking about VMs and containers, they’re talking about serverless architecture. Serverless is about no maintenance. It means you are not worried about low-level infrastructural and operational details. An event-driven serverless platform is a great use case for IoT. In his session at @ThingsExpo, Animesh Singh, an STSM and Lead for IBM Cloud Platform and Infrastructure, will detail how to build a distributed serverless, polyglot, microservices framework using open source tec...
Presidio has received the 2015 EMC Partner Services Quality Award from EMC Corporation for achieving outstanding service excellence and customer satisfaction as measured by the EMC Partner Services Quality (PSQ) program. Presidio was also honored as the 2015 EMC Americas Marketing Excellence Partner of the Year and 2015 Mid-Market East Partner of the Year. The EMC PSQ program is a project-specific survey program designed for partners with Service Partner designations to solicit customer feedbac...
Apixio Inc. has raised $19.3 million in Series D venture capital funding led by SSM Partners with participation from First Analysis, Bain Capital Ventures and Apixio’s largest angel investor. Apixio will dedicate the proceeds toward advancing and scaling products powered by its cognitive computing platform, further enabling insights for optimal patient care. The Series D funding comes as Apixio experiences strong momentum and increasing demand for its HCC Profiler solution, which mines unstruc...
The IoT is changing the way enterprises conduct business. In his session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, discussed how businesses can gain an edge over competitors by empowering consumers to take control through IoT. He cited examples such as a Washington, D.C.-based sports club that leveraged IoT and the cloud to develop a comprehensive booking system. He also highlighted how IoT can revitalize and restore outdated business models, making them profitable ...
IoT offers a value of almost $4 trillion to the manufacturing industry through platforms that can improve margins, optimize operations & drive high performance work teams. By using IoT technologies as a foundation, manufacturing customers are integrating worker safety with manufacturing systems, driving deep collaboration and utilizing analytics to exponentially increased per-unit margins. However, as Benoit Lheureux, the VP for Research at Gartner points out, “IoT project implementers often ...
"delaPlex is a software development company. We do team-based outsourcing development," explained Mark Rivers, COO and Co-founder of delaPlex Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
In his general session at 18th Cloud Expo, Lee Atchison, Principal Cloud Architect and Advocate at New Relic, discussed cloud as a ‘better data center’ and how it adds new capacity (faster) and improves application availability (redundancy). The cloud is a ‘Dynamic Tool for Dynamic Apps’ and resource allocation is an integral part of your application architecture, so use only the resources you need and allocate /de-allocate resources on the fly.
Connected devices and the industrial internet are growing exponentially every year with Cisco expecting 50 billion devices to be in operation by 2020. In this period of growth, location-based insights are becoming invaluable to many businesses as they adopt new connected technologies. Knowing when and where these devices connect from is critical for a number of scenarios in supply chain management, disaster management, emergency response, M2M, location marketing and more. In his session at @Th...
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, discussed how research has demonstrated the value of Machine Learning in delivering next generation analytics to imp...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...