ENCINO, Calif., Aug. 9, 2007 (PRIME NEWSWIRE) -- NuTech Digital (OTCBB:NTDL), a home entertainment content provider, and Jump Communications, Inc., a digital communications and technology company, have agreed to a merger where NuTech Digital obtains 100% of Jump Communications. As part of the transaction, the Company will purchase Jump's Telco switch hardware valued at over $3.5Million, as well as technology licenses to market, manufacture and exploit next generation video products and video networks.
According to NuTech Digital management once the deal closes, NuTech will focus on delivering Jump Communications' products and services and plans to focus the Company's attention on initial sales in the medical, security and surveillance, and multiple dwelling unit divisions while developing other industry segments.
The terms of the merger agreement have not been disclosed. The companies anticipate the merger will close within 60 days. NuTech Digital currently has approximately 34.1 million shares outstanding and is a fully reporting company on the NASDAQ OTCBB.
About Jump Communications
Jump Communications, Inc. (Jump), www.rosetel.com, is a digital communications and technology company based in Los Angeles, California. Jump manufactures hardware and software products embodying a variety of video compression standards and Jump's more powerful next generation digital video compression technology. Jump delivers live 2-way video with true personal presence over the Internet or other broadband connections and over its own highly secure telephone network.
About NuTech Digital
NuTech Digital is in the home entertainment product market, with more than 300 exclusive DVD titles and a library of High Definition music concerts. NuTech Digital offers original and licensed content via a worldwide network of distributors, retailers and Internet entities, including Warner Music Group and CinemaNow. NuTech Digital also has broadcast availability, Digital rights Management (DRM), and Video-on-Demand for many of its new products. NuTech Digital recently introduced its DRM technology, which enables the secure distribution of high-resolution digital content via the Internet www.nutechdigital.tv. NuTech's Digital's DRM platform allows its programming to be accessed via secure downloads and included in online subscription services.
Forward-Looking Statements
The statements in the press release that relate to the company's expectations with regard to the future impact the company's results from acquisitions or actions in development are forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements in this document may also contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The management of the company takes full responsibility for the contents of this news release. The information contained herein should not be construed as a recommendation to purchase any securities. Statements in this news release concerning the company's business outlook or future economic performance, anticipated profitability, revenues, expenses, or their financial items and statements concerning assumptions made or expectations as to any future events, conditions, performance, or other matters, regarding "forward-looking statements" as that term is defined under the Federal Securities Laws. There is no guarantee past performance will be indicative of future results. The accuracy or completeness of the information in this news release is only as reliable as the sources they were obtained from investments in small cap companies are generally deemed to be highly speculative and to involve substantial risk, making it appropriate for readers to consult with professional investment advisors and to make independent investigations before acting on information as any investment in small cap companies could prove to be high risk investments with the result of loss of part, or the total principal investment.