SAN DIEGO, CA -- UI Magic, Inc. (www.uimagicinc.com), an emerging wireless technology and platform services company, today announced its recent acquisition of Moai Technology, Co., Ltd. (www.moaitech.com), a Korea-based premier mobile gaming developer and publisher focused on real-time mobile network games for the global wireless gaming community. With this transaction, Moai Technology has become a 100% owned subsidiary of UI Magic, Inc.
"We are very excited to have Moai Technology as part of UI Magic. This acquisition will enable us to move into the real-time mobile networking gaming segment, which we expect will have huge potential in the US. The strategic sales/marketing channels with existing major Korean carriers and other global carriers that Moai will be brining to the table will prove to be a significant asset," stated Satoru Yukie, President and CEO of UI Magic.
Yukie continued, "The Mobile gaming segment in the US is growing at an unprecedented rate. Experts believe the market size will exceed $1.5 billion by end of 2009. Nevertheless, there aren't any true real-time mobile network games available in the US market. Our 100% owned subsidiary Moai will be introducing a handful of real-time mobile games including Massive Mobile Online Role Playing Games ('MMORPG'), which can cater to as many as 500 simultaneous game users. It is our strong belief that the US market and US consumers are ready for these types of real-time, mobile network games."
"We are very pleased to be a part of UI Magic, Inc. I truly believe the mobile gaming know-how and experiences that we have accumulated over the period of 4 years will be pivotal assets for UI Magic going forward. Additionally, I can foresee huge synergy and arbitrage opportunities being generated as a result of this cross-border consolidation," stated Harry "Jun Hwa" Chang, CEO and President of Moai Technology.
With this stock purchase acquisition, UI Magic added 20 employees, most of whom were with Moai since its inception in January 2003. Harry "Jun Hwa" Chung was appointed to the management seat of UI Magic as the Chief Creative Officer and Executive Vice President of Korea Operations.
About Moai Technology
Based in Korea, Moai Technology Co., Ltd. (www.moaitech.com) is a 100% owned subsidiary of UI Magic that specializes in development and publishing of real-time mobile network games. Since its inception in January 2003, Moai has serviced mobile game contents to thirteen global carriers in three different continents. At present, more than 90% of the company's revenues stem from direct channel relationships with the global carriers which include SK Telecom, KT Freetel, LG Telecom, O2, Vodafone, to name a few. The company develops its portfolio of mobile games based on major wireless applications platforms such as Java, BREW, VM, JAVA, WIPI, BREW, and GNex.
Harry "Jun Hwa" Chang
Prior to joining UI Magic, Harry co-founded and successfully grew Moai Technologies, Inc. Before founding Moai, Mr. Chang was the head of Mobile Division of Barunson Card, one of the largest character contents providers in Korea, where he was in charge of all business related activities for Barunson's mobile division. Prior to working for Barunson, Mr. Chang started his career with Shinsegi Telecom (later merged with SK Telecom). During his five years at Shinsegi and SK Telecom, Mr. Chang was in charge of managing the mobile contents and applications segment. Mr. Chang has a B.S. in Electronic Engineering from Aviation College in Korea. He is currently enrolled in an Executive MBA program at Korea University.
About UI Magic
Based in San Diego, California, UI Magic Inc. (www.uimagicinc.com), is a premier wireless technology and platform services company, which addresses the next generation mobile applications and interfaces supported by end-to-end services platforms. The company offers revolutionary customer User Interfaces that not only support customer-driven look and feel, but also a new host of services that seamlessly integrate into the company's robust UI.