NEWPORT BEACH, CA -- (Marketwire) -- 06/20/11 -- Newport Digital Technologies, Inc. (OTCBB: NPDT) (OTCQB: NPDT) announced today a strategic business agreement with TechVentures Capital Investment Corp and its principal, Roy Koo. NPDT also has become a reseller for LG Electronics (LG) Commercial Display products in the United States.
Newport Digital Technologies will focus initial sales efforts on the business-to-business commercial markets with emphasis on sports and entertainment facilities, hotels and hospitality venues and digital signage networks in retail stores. The company has already been retained by the San Diego Padres of Major League Baseball to revamp their digital signage and audio systems in Petco Park to optimize the fan experience.
Koo, the founder of TechVentures Capital Investment Corp, will become a 10 percent stakeholder in NPDT through the Koo Family Trust. Koo will also be a board advisor for NPDT as the company looks to expand its presence in the U.S. digital signage market.
Through these new relationships, NPDT also plans to launch a division that will be dedicated to deploying proprietary out-of-home digital signage networks (DSNs) in select retail chains based on a recurring advertising revenue model. The company also plans to explore similar revenue-sharing alliances with existing DSNs.
NPDT CEO Donald Danks stated, "LG is one of the world's strongest brands in consumer and commercial electronics. With LG commercial display solutions, we plan to expand our digital signage marketing efforts into several large markets in the United States targeting opportunities in the hospitality, health care, retail, sports and entertainment and government and education markets.
"We plan to be opportunistic in leveraging key relationships to expand sales into these niche markets while keeping a very low fixed cost business model. We will be sharing more details about our plan for growth in these markets and our move into the out-of-home digital signage network business in the near future," Danks concluded.
Newport Digital Technologies, Inc.
Newport Digital Technologies, Inc. is a technology solutions driven company focused on the fast-growing digital signage & LED lighting market. NPDT develops and delivers these technology solutions through strategic collaborations with LG Electronics USA Commercial Displays, U.S. installation partners and global partners in Taiwan and China. NPDT has the ability to develop and install virtually any digital signage or LED lighting solution.
Safe Harbor: This press release contains certain forward-looking statements with respect to NPDT and its business. Statements that are not historical facts are identified as "forward-looking statements." The words "estimate," "project," "intend," "expect," "believe," "plan," and similar expressions, particularly when used in the "future tense," are intended to identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Information on potential risk factors that could affect the Company's business plans and financial results can be found in the Company's reports filed with the Securities and Exchange Commission. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.
Newport Digital Technologies, Inc. has its headquarters located in Newport Beach, California, with a branch office in Australia. For further information, contact Donald Danks, +1.949.230.8323, firstname.lastname@example.org and visit the Company's website at: www.newportLG.com