Beyond Commerce, Inc. Announces LocalAdLink's Expansion Into Asian Markets Through a 50-50 Joint Venture
HENDERSON, Nev., May 14 /PRNewswire-FirstCall/ -- Beyond Commerce, Inc. (OTC Bulletin Board: BYOC - News) www.beyondcommerce.com, an E-commerce solutions, local advertising and niche social networking company, is pleased to announce its first purchased licensing agreement and 50-50 joint venture for LocalAdLink's expansion into the following Asian Markets: Malaysia, Indonesia, Brunei, Thailand, Vietnam, Cambodia, Burma and Laos. Beyond Commerce has licensed the rights to LocalAdLink's technology and brand to Labocus Ultronics, Pte Ltd., a Singapore corporation.
Labocus Ultronics has purchased a license to the proprietary technology and brand, LocalAdLink. The joint venture partner Labocus Ultronics will run the day to day business and will fund the costs of operations within the markets described. LocalAdLink will manage the back office, the technology, facilitation of all commissions, and provide all marketing strategies. The company's technology is multi-language and currency enabled. Under separate financial agreements Labocus Ultronics will also have an option to operate in the Philippines, and rin India.
"We are greatly enthusiastic about the joint venture and opportunity to expand the LocalAdLink footprint in the Asian markets. We believe the timing is right for LocalAdLink to provide local advertising to small businesses in targeted markets. We are committed to Beyond Commerce and its founders. We acknowledge their expertise in the areas of Internet advertising, E-commerce and social networking. We recognized the opportunity with Beyond Commerce months before the substantial growth LocalAdLink has now achieved and feel privileged to have the license to expand into these markets," stated William Hathcock, Managing Partner of Labocus Ultronics.
This is LocalAdLink's first joint venture into the Asian marketplace. Currently the Company is in negotiations with other financial groups to license its technology and brand in Hong Kong and China. LocalAdLink will continue to expand into other Pacific Rim countries with the same strategy so it can rapidly expand its footprint in these markets without any significant capital cost. The strategy of joint ventures provides us with local knowledge and capital as we expand into these emerging markets.
"The cash fees generated from these licensing agreements will provide the Company with capital that will assist in managing our rapid growth," stated Trevor Williams, VP International Business Development. "Since mid November of 2008, LocalAdLink has grown our sales force to extend into every zip code nationwide. This joint venture will ensure healthy long term international growth and success by partnering with companies or financial groups already established in these markets."
In addition to the Asian markets, the Company plans to internally manage expansion into the Canadian and Australian markets. Australia and Canada will pre-launch in the third quarter of 2009.
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