TORONTO, ONTARIO -- (Marketwired) -- 04/09/13 -- TransGaming Inc. (TSX VENTURE: TNG), the global leader in developing and delivering platform-defining social video game experiences to consumers around the world, today announced it has signed a licensing agreement valued at $1 million USD with a pioneering Fortune 1000 cloud services provider to enable select products to run on various System-on-Chipsets using TransGaming's core technology. Due to a confidentiality agreement, the partner cannot specifically be named at this time.
TransGaming has an established history of developing deep intellectual property for enabling games and other applications across a range of platforms. The license fee of $1 million USD is subject to the successful outcome of a proof of concept that is currently underway.
"This license agreement is continued validation of the depth and breadth of our core technology. TransGaming's ability to help large organizations broaden their market reach and expand their product portfolio to address consumer needs on multiple platforms is unrivaled," said Vikas Gupta, CEO & President, TransGaming Inc. "Our relationships with leading technology and service providers continue to expand based on the strength of our product offerings. We look forward to further growth opportunities, building on the strong competitive edge that TransGaming's essential technology products deliver."
About TransGaming Inc.
TransGaming Inc. (TSX VENTURE: TNG) is the global leader in developing and delivering platform-defining social video game experiences to consumers around the world. From engineering essential technologies for the world's leading companies, to engaging audiences with truly immersive interactive experiences, TransGaming fuels disruptive innovation across the entire spectrum of consumer technology. TransGaming's core businesses span the digital distribution of games for Smart TVs, next-generation set-top boxes, and the connected living room, as well as technology licensing for cross-platform game enablement, software 3D graphics rendering, and parallel computing. Visit us at http://transgaming.com.
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.
Jean-Francois (JF) Dube
Investor Relations - Canada
+1 877 848 8790
Adam P. Lowensteiner
Investor Relations - United States
Wolfe Axelrod Weinberger Associates LLC
+1 212 370 4500
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