Degama Software Solutions, Inc. positions VascoNow for Korean Market
DGMA Enters Negotiations with Top Technology Firm for Korean Version of VascoNow
Toronto, ONTARIO– August 24, 2010 – Degama Software Solutions, Inc. (OTC: DGMA) CEO, Seijin Ki, is thrilled to announce, amidst a stream of recent successes, the company has entered official discussions with a Leading-Edge Korean Technology Company with expertise in various sectors of the industry.
The companies have engaged in negotiations for a win-win strategic alliance that will bring Degama’s proprietary VascoNow™ geolocation-based social networking app to Asian markets beginning with a Korean-language version of the software to be distributed in Korea, a highly connected and lucrative market.
The Korean company, with which Degama is in negotiations, is involved with broadband network design and integration, end to end solutions, network maintenance and product support, “so there’s no shortage of expertise and market position,” states Degama CEO, Ki. “Our prospective partners have various new technological features already developed which can be implemented into the VascoNow App. We are confident these would give Degama a clear competitive edge over any other similar apps in the marketplace.”
South Korea's IT market is projected to continue to strengthen in 2010, after signs of a continued upturn in consumer demand in the first half of 2010. South Korean IT spending is expected to increase from US$16.1bn in 2010 to around US$20.3bn in 2014. Software spending is forecast at US$5.7bn in 2010 and is expected to be the fastest-growing segment of IT spending. As the market focus moves from hardware to services and solutions, the share of the market accounted for by software should rise, with enterprises seeking greater leverage from their investments.
Ki comments, “We are extremely pleased to be setting foot in these markets, and only with a capable partner can a company expand successfully with key positioning in a cost-effective, streamlined manner. We are confident we’ve found that partner. Their vast knowledge and expertise in this sector will be a key factor in Degama's profitable launch into this market. Thus far, initial conversations have been mutually satisfactory toward moving forward with hard Agreements that will benefit both companies and all indicators thus far point to final signatures and handshakes in the very near future.”
About Degama Software Solutions, Inc.
Degama Software Solutions, Inc. is a leading edge technology company that develops and markets proprietary location based software solutions and applications for consumers and businesses. Degama Software Solutions, Inc. is a publicly listed company (OTC: DGMA)
Degama Software Solutions Inc., (Degama) markets and builds applications, or “apps” to make it simpler and more enjoyable for people to share information and get things done together. In a vast world Degama helps people navigate through their days and travels while at the same time staying connected to their friends, family and the world.
Degama is committed to developing and delivering the best products. As mobile devices become increasingly central to people’s lives, we work hard to help you get the information you need when you are on the go. For more information about Degama Software Solutions please visit www.degamasoftwaresolutions.com
Safe Harbor: This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions.
Release Prepared by NMR, LLC
Degama Contact:
Seijin Ki, info@degamasoftwaresolutions.com
Tags: