Neomagic Corporation Announces Private Equity Financing

San Jose, California (PRWEB) January 17, 2012

NeoMagic Corporation (NMGC.PK), the pioneer of embedded memory and logic technology, announced today that it has executed a private financing (the PIPE) for 6,000,000 shares of the Companys Common Stock priced at $ 0.01 per share. The financing is led by Bluestone Financial LTD investor group and Mediastone LLC, two prominent venture capital and private equity firms. David Tomasello, NeoMagics Chairman of the Board, is managing director of Bluestone Financial and Jorge-Granier Phelps, a member of NeoMagics Board of Directors, is managing director of Mediastone LLC.

Also participating in the transaction, are Syed Zaidi, President and CEO, and Charlotte Willson, Vice President Finance and Principal Accounting Officer, and two additional employees. The initial closing date of the PIPE was set at January 11, 2012 and at the discretion of the Company, the Company may conduct one or more subsequent closings within 150 days of the initial closing date, allowing additional investors to participate in the PIPE up to a maximum aggregate of 16,000,000 shares of its common stock for a maximum financing of $ 160,000.

Syed Zaidi, President and CEO of NeoMagic Corporation said, This funding milestone shows that our investors share our enthusiasm as we execute to our business plan and move forward with new product development. By securing funding, we will now be able to accelerate our efforts to bring to market a new generation of products and to capitalize on what we believe are high-volume and high-growth opportunities for the Company.

Separately, NeoMagic has retained Proactive Investors a leading multi-media news organization, investor portal and events management business with offices in New York, Sydney, Toronto, Frankfurt and London to improve investor communications and increase the Company’s visibility with high net worth investors, fund managers, hedge funds and private client brokers.

About NeoMagic

NeoMagic designs and delivers consumer electronic device solutions with semiconductors and software for video, television, imaging, graphics, and audio. We provide low cost, innovative chip technology for tomorrow’s entertainment and communication needs. Our solutions offer low power consumption, small form-factor and high performance processing. As part of our complete system solution, we deliver a suite of middleware and sample applications for imaging, video and audio functionality, and we provide multiple operating system ports with customized drivers for our products. Our product portfolio includes semiconductor solutions known as Applications Processors. Our Applications Processors are sold under the MiMagic brand name with a focus on enabling high performance processor within a low power consumption environment. The Company has developed the Horizon Digital Picture Frame kit using our MiMagic 6+ application processor. We are also utilizing the MiMagic 6+ application processor in an M-book controller to be used by karaoke systems.

Our capabilities give our partners and their customers high quality answers to excite and enhance the consumer’s lifestyle. For more information, visit http://www.neomagic.com.

About Proactive Investors

Proactive Investors facilitate the largest global investor network across 4 continents in 4 languages. With a team of analysts journalists & professional investors Proactive produce independent coverage on 1000s of companies across every sector for private investors, private client brokers, fund managers and international investor communities. For more information, visit http://www.proactiveinvestors.com.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve significant risks and uncertainties. Such statements may include, without limitation, statements with respect to the Company’s plans, objectives, projections, expectations and intentions and other statements identified by words such as “projects,” “may,” “could,” “would,” “should,” “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” or similar expressions. These statements are based upon the current beliefs and expectations of the Company’s management and are subject to significant risks and uncertainties, including those detailed from time-to-time in the Company’s filings with the Securities and Exchange Commission, including our Form10-K’s, 10-Q and 8-K’s for 2007 through the date of October 31, 2010 hereof have been made available to the Investor at http://www.sec.gov. Information for the period ending January 30, 2011 to the present is not available through the SEC due to the cessation of the Companys required filings under the 1934 Act. Actual results, including, without limitation, the Company’s ability to successfully raise capital may differ significantly from those set forth in the forward-looking statements. Forward-looking statements involve risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company’s control). For example, statements about our expectations in connection with financings are subject to a variety of uncertainties and are subject to change as a result of changes in circumstances that could make it difficult for us to consummate such financings on terms acceptable to the Company, or at all. The Company undertakes no obligation to update any forward-looking statements, except as provided for by law.

NeoMagic is a registered trademark of NeoMagic Corporation and MiMagic is trademarked. All other trademarks are the property of their respective owners. NeoMagic disclaims any proprietary interest in the marks and names of others.

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All IPv6 Internet, All the time

All IPv6 Internet, All the time
By Steven J. Vaughan-Nichols | January 17, 2012, 2:52pm PST Summary: The Internet Society has announced that it's gotten many of the world's major Websites, Internet service providers, and home networking equipment manufacturers are committing to …
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Beware social networking for business purposes
A WIGAN IT firm is warning local businesses about adding clients on social networking sites. As internet sites such as Facebook and Twitter become increasingly popular and companies become more savvy in the digital world, bosses at The IT Way today …
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Networking: Sierra Nevada PR Society luncheon
The Sierra Nevada Chapter of the Public Relations Society of America will hold a luncheon from 11:30 am to 1 pm Jan. 25 at the Atlantis Casino Resort and Spa. The featured guest is Google Travel's marketing specialist, Shaun Aukland, who will discuss …
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OKAY… This is my vow to dedicate my social networking life to google+!!!

OKAY… This is my vow to dedicate my social networking life to google+!!! – by PromisedKing (David Coyle)

5 Enterprise Social Traps To Avoid In 2012

5 Enterprise Social Traps To Avoid In 2012
From wake-me-when-it's-over syndrome to data overload, dangers stand between your company's social networking plan and success. Here's how to overcome some current challenges. Companies that have not already embraced social networking can no longer …
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Big Switch Networks Intros Open-Source OpenFlow Controller
Big Switch Networks, a new vendor in the nascent, but growing field of OpenFlow-based networking, has introduced an open source controller for companies that want to build applications on top of the controller in an environment where the network …
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Networking group aimed at LGBT community launches this week
Over the years, Marder has fielded similar questions from young gay professionals and had conversations with friends who wondered why there wasn't a professional networking group geared toward a growing lesbian, gay, bisexual and transgender community …
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FanFueled Increases Client Roster by 200%; Signs Chicago Bluegrass & Blues Festival, DaDa Life, and The Brain Trust Group

Chicago, IL (PRWEB) January 17, 2012

On the heels of a $ 1 million round of new investment, FanFueled is pleased to announce, it ended the year with a 200% increase in its client roster. Included among the many new clients utilizing FanFueleds online fan engagement platform are Chicagos Bluegrass & Blues Festival, Swedish DJ sensation; DaDa Life and Bostons Brain Trust Group.

FanFueled is at the forefront of the consumer rewards technology industry, said FanFueled CEO & founder Anderson Bell. With strong investor interest, a growing client base, and fans embracing the model, we expect exponential growth in 2012.

Chicago Bluegrass & Blues Festival:

Set to take place 2 weekends in January (20th & 27th) at various venues around the windy city, the Chicago Bluegrass and Blues Festival is Chicago’s most expansive and contemporary showcase of roots music and genres that started it all. Chicago Bluegrass & Blues Fest is truly a summer festival brought indoors to warm the Chicago winter. FanFueled has built an engagement platform utilizing their patent-pending technology that provides a unique way for CBB fans to interact with each other, artists and earn prizes such as tickets, VIP upgrades, autographed merchandise, and more. This years event includes: Drive By Truckers, Dawes, David Grisman Quintet, Del McCoury Band, among others.

“The decision to work with FanFueled is truly a no-brainer, following a successful partnership promoting our other big event, North Coast Music Festival, earlier this year. FanFueleds technology empowers and incentivizes our fans to take the exact actions online that the success of the festival relies upon. If everyone engages with the artists, shares the content, and spreads the word digitally, the fest will continue to grow. And we’ll be happy to award them for doing so.” Mike Raspatello – founder, Chicago Bluegrass & Blues Festival.

DaDa Life:

Swedish producers and DJs Olle Corner and Stefan Engblom the latest innovators to cross the pond, are causing a sensation with their banana costumes and champagne antics hailing their latest anthem to Kick Out the Epic Mother F**ker. DaDa Life is leveraging FanFueleds technology to promote their events and fans can earn points at http://www.dadalife.fanfueled.com to win a chance to pop champagne and dance on stage with their friends sporting their very own banana costumes. FanFueled has come together with DaDa Life to create a unique rewarding system for future appearances that goes into affect immediately, including their Webster Hall extravaganza in New York City at the end of the month (1/27/12). Heavy influencers among fans and peers alike, the savvy duo recently released an amazing plug-in The Sausage Fattner, available to anyone. Notable fans of the plug-in include: Dimitri Vegas & Like Mike, Ti

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Euro RSCG Chicago Names Megan Lally Account Director

Chicago, IL (PRWEB) January 17, 2012

Megan Lally has joined Euro RSCG Chicago as Account Director reporting to Deirdre Egan, Managing Director, who has led the Citi

e-Discovery Consulting Services in the US Industry Market Research Report Now Available from IBISWorld

Los Angeles, CA (PRWEB) January 17, 2012

As the amount of electronically stored information (ESI) continues to grow, e-discovery will become an increasingly important part of the legal process, according to IBISWorld industry analyst Nikoleta Panteva. Consulting services are also a vital part of the move to e-discovery. “As the economy improves, law firms will be more willing to spend money on outsourced consulting services. IBISWorld forecasts that the law firms industry worth $ 281 billion in 2012 will grow by an average 2.8% per year to 2016. Demand for outsourced services is particularly important as staffing cutbacks during the recession will have a negative short-term effect on productivity as the economy improves.” With economic recovery, corporate profit is slated to grow at a robust average annual rate of 7.3% over the five years to 2016. As increasing litigation rates and demand for corporate law looms around the corner, firms that laid off too many employees will find it hard to compete against those who have strategically positioned themselves for tomorrow’s market.

Coupled with the ever-increasing amount of ESI and growing demand from the legal market, IBISWorld anticipates that e-Discovery Consulting Services industry revenue at expand at more than double the rate of overall economic growth. The type of data scoured and the expanding sources through which it is retrieved will help strengthen product development. Corporations already cite social networks as a significant source of information, and the growing influence of social websites within the work environment will spur demand for new and advanced e-discovery products like processing and analysis software, collection software, review software, legal hold software, and consulting services.

Major players in the e-Discovery Consulting Services industry include Kroll Ontrack, Scarab Consulting and Fios Inc. Consultants are involved in all aspect of e-discovery data collection, retrieval, coding and analysis used for litigation, regulation and investigation. Consultants will face competition from software developers, such as Autonomy Corporation and Symantec Corporation as demand for industry services grows. Software developers will consult and train during and after the software installation process and troubleshoot after installation if problems arise. These services require little additional investment on the part of the software company since its employees will already be well versed in the software for consulting and training purposes. Moreover, as these services can command a hefty price tag, and can lead to on-going engagements, they are a valuable revenue source of income relative to actual software development.

For more information visit IBISWorlds e-Discovery Consulting Services industry

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This industry provides e-discovery services, in which electronic data are searched, located and secured for use as evidence in a court of law. Industry firms provide e-discovery consulting services, including collecting, processing and reviewing data, to end users like law firms, corporations, hospitals and government agencies.

IBISWorld industry Report Key Topics

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Recognized as the nations most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.

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