Mandalay Digital Group to Collaborate with Intel Capital on Strategic Opportunities

LOS ANGELES, Dec. 6, 2012 /PRNewswire/ -- Mandalay Digital Group, Inc. (OTC Markets: MNDL), a leading global mobile data services provider, today announced it will work with Intel Capital, Intel Corporation's global investment organization, on strategic opportunities. As part of the collaboration, Mandalay Digital Group has signed a definitive agreement to acquire the music label assets of mobile entertainment studio skyrockit, an Intel Capital portfolio company, and Intel Capital will become a shareholder of Mandalay Digital Group.

"Intel Capital has made a massive impact in the technology innovation landscape and we look forward to working with them on this deal and others to follow," stated Peter Adderton, chief executive officer of Mandalay Digital Group. "Acquiring the music label assets from skyrockit is a great opportunity for us as we continuously enhance Digital Turbine's content offerings creating a robust alternative content eco-system for our OEM and carrier partners."

"We are excited about Mandalay Digital Group and what they are doing in the mobile space and look forward to working with them on other strategic opportunities," states Marc Yi, managing director, Intel Capital.

Digital Turbine is an innovative, comprehensive and fully-integrated cross-platform user interface and multimedia management system for OEMs which sits atop each of the various operating systems to provide a consistent experience for the user. Digital Turbine allows users to find, consume and manage content like no other experience has before. With its unique ability to manage and find content, create brand pages and leverage its unique IQ search experience, Digital Turbine allows content to come to the consumer rather than the traditional way of the consumer having to find content.