CLEARWATER, Fla., March 22, 2006 (PRIMEZONE) -- Bidville, Inc. (OTCBB:BVLE), an innovative and growing Internet auction company and an alternative to eBay, has announced today that it has entered into a Letter of Intent to acquire DigiKidz, Inc., a south Florida producer and marketer of personalized DVD products for children, and owner and operator of the Internet e-commerce website, www.digikidz.com.
As an Internet marketer with strong strategic distribution alliances in place, the acquisition of DigiKidz is anticipated to increase Bidville's annual revenues substantially and assist it in generating increasing year-over-year earnings going forward. The agreement calls for Bidville to issue approximately 16.7 million shares of its common stock in addition to a common stock purchase warrant to Media Magic, Inc., the sole shareholder of DigiKidz. Once the acquisition closes, DigiKidz will operate as a wholly-owned subsidiary of Bidville and will continue to be managed by its senior management.
Based in West Palm Beach, Fla., with manufacturing and fulfillment operations in Cooper City, Fla., just outside of Ft. Lauderdale, DigiKidz proprietary product line sold online and through "brick and mortar" retail, features personalized English and Spanish language animated stories for children on DVD, which are distributed in the U.S. and Canada, and now entering multi-national distribution.
"We are very excited to announce the acquisition of DigiKidz, Inc., because of its strong following of family customers, and its many strategic marketing alliances that reach into the family marketplace nationwide -- both online and at retail, all of which are valuable to Bidville's brand building objectives," stated Brian Schuster, Bidville's newly-appointed Chairman of the Board. He added, "DigiKidz also brings to us considerable online sales and marketing expertise, directly and through affiliates, that can help us grow our business."
About DigiKidz, Inc.
DigiKidz, founded in 2004, is an Internet marketer of numerous types of personalized products for children. In 2005, it began to focus its sales and marketing efforts on a new proprietary line of twelve (12) personalized animated video adventure stories, and also produced its first entertaining, but educationally-oriented, DVD for toddlers. In late 2005, its proprietary product lines entered into several mass market distribution tests (both online and "brick and mortar") that have provided key strategic alliances, insights and distribution opportunities that DigiKidz will leverage in 2006.
About Bidville, Inc.
Bidville, Inc., a Nevada corporation, was founded in 1999 as an Internet auction alternative to eBay. The company provides unique user features, such as Storefronts, Watch Lists, Image Gallery, and fixed price listing options. Bidville is headquartered in Clearwater, Florida, U.S.A. For further Company and product information, please visit the Company's website at www.bidville.com. Additional information, including current financial data, is available in current Securities and Exchange Commission filings.
This release contains statements that constitute forward-looking statements. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.
All information in this release is as of the date of this release. The Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company's expectations.