LAS VEGAS, NEVADA--(Marketwire - 01/07/10) - Sync2 Networks Corp. (OTC.BB:SYNW - News) is implementing its restructuring program, with new JV Partnership.
Sync2 Networks, Develops Virtual Online Gaming Application, that will provide an integrated process for developing and distributing our applications through the AMPSC international agent network in over 20 countries. One of the company's key restructuring programs is being be implemented through the new Acquisition of the AMPSC Group lead by Sync2 networks, new president Mr. Ron Houle.
The JV partners in India will complement our North American team to provide a global application for our JV partners at VRX Simulators (www.vrx.ca) with such clients as Microsoft, Intel, AMD, Samsung, Indy and Nascar racing, just to name a few. This new virtual online gaming application will complement the Virtual Racer X Simulator platform.
This direction represents a corporate focus on the global gaming market and compliments the VRX Simulator partnership and development for a truly global application.
Mr. Houle has been working with VRX under a JV partnership with our Indian partners to develop an application to complement the VRX platform, where by the fiscal Racer X Racing simulator platform is used. Sync2 Networks with our India team will create a virtual online application where gaming and advertising come together and is fed directly into the online game as people around the world are playing in real time.
According to a recent report by market research firm iResearch currently, sales and subscriptions to Web-based games generate $353 million. Online-game advertisements generate between $450 million and $550 million, the research company said.
One segment that's giving the online-game industry a boost is "massively multiplayer online games". According to the Yankee study, in the United States alone, there will be 10 million people subscribing to these games by 2010, generating over $1.2 billion in revenue.
Last year, China's online gaming industry turned over 27.5 billion yuan (about 4.03 billion U.S. dollars) in 2009, according to Ma Huateng, president and CEO of China's leading Internet service provider Tencent Holdings Limited.
The global in-game advertising market, which generated $77.7 million globally in 2006, continues to develop at an exponential rate and will, by 2011, grow to $971.3 million in worldwide in-game advertising expenditures (fixed product placement/static ads and dynamic ads), according to a recent Yankee Group report.
About Sync2 Networks Corp.
Sync2 Networks is an online business development firm, which develops online Gaming and advertising applications. Sync2 through the AMPSC Group, also has a worldwide network of international marketing and business development agents in over 20 countries to sell and market its applications and to build, maintain and market their online business. For more information see www.sync2networks.com.
Legal Notice Regarding Forward Looking Statements
This news release contains "forward-looking statements", as that term is defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future.
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