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| [November 13, 2012] |
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Apps Genius Corporation Signs Binding Letter of Intent to Acquire Renaissance Partner Group, Inc., DBA WinHire Inc.
DEERFIELD, Fla. --(Business Wire)--
Apps
Genius Corporation (OTCBB: APGS)
today announced that it has signed a binding letter of intent to
purchase 100% of Renaissance Partner Group, Inc. (RPG), an innovator of
recruiting and talent management solutions. RPG recently acquired WinHire
Inc., with projected unaudited revenues of approximately 1.7 million
US dollars for financial year 2012. Upon closing of the transaction, the
company announced that Giri Devanur, the current CEO of RPG will be
appointed Chief Executive Officer of Apps Genius (News - Alert) Corporation and Adam
Kotkin will remain an officer and director of the company. Under terms
of the Binding Letter of Intent, Apps Genius Corporation will issue
shares to RPG whereas the current shareholders of RPG will be issued 65%
of the issued and outstanding shares of Apps Genius Corporation after
the closing of the merger. The transaction is subject to due diligence
and both shareholder and board approval of both companies.
WinHire Inc., brings a unique combination of IBM's (News - Alert) SmartCloud-based
technology (http://www.ibm.com/news/in/en/2011/08/17/k459773h99281f25.html)
and consulting services that integrates both people and processes,
providing solutions to engage a smarter, more effective workforce across
their most critical business functions.WinHire technology development
team is in the process of developing multiple products for the fast
growing global Human Capital Management (HCM) market. Currently, WinHire
has more than 25 clients including PWC, Oracle,
CGI,
Airbus, AdityaBirla group among others. WinHire is also a gold partner
of Oracle Corporation. WinHire has 85 professionals located in New
Jersey, Los Angeles and Bangalore. WinHire is targeting the global
staffing and recruitment industry. The acquisition of WinHire Inc.,
allows Apps Genius to make the entry into the $499 Billion Recruitment
and Global Staffing Market, while partaking in the emerging HCM market
which has approximately $9.5Billion in annual revenues.
The combination of WinHire Inc, and Apps Genius, will allow the
integration of WinHire's next generation Social recruitment platform
with the social games of Apps Genius. The deep experience of the WinHire
management team in the enterprise technology market along with the broad
reach of Apps Genius' social platform paves the way for expanding our
products and services to the global enterprise market in unique ways.
"I am extremely excited that Giri Devanur will be taking the reins of
Apps Genius to drive it to the next level," stated Adam Kotkin, CEO of
Apps Genius Corp. "The timing of adding RPG's vast Fortune 500 group of
clients will make the transition for Apps Genius' movement from B-to-C
apps to B-to-B apps seamless. Working closely with Giri and the WinHire
team towards this acquisition has shown me the power of entering the
B-to-B marketplace and is where I see the most potential future growth
for our corporation. The current revenue stream and the future growth
potential of RPG, will enable Apps Genius to expand and quickly
capitalize on the B-to-B marketplace. The experience that is being
brought on-board by the WinHire team as well as their clients should
enable Apps Genius to grow and expand."
WinHire CEO, Giri Devanur said, "Our data scientists have designed a
next generation talent discovery engine, which will enable Fortune 500
clients to be able to attract and develop the right skills to build the
right teams, for the right projects. We are very excited about
introducing new Enterprise Social Games based on Apps Genius social
gaming infrastructure, and the combined capabilities of the management
team."
About Renaissance Partner Group, Inc. (RPG), DBA WinHire Inc.
WinHire (http://www.winhire.com)
is an innovative technology product company based in USA with offices in
Bangalore. WinHire has developed a video social recruitment portal that
facilitates people around the world to connect to their dream jobs
through video profiles. The portal allows job-aspirants to upload their
video profiles that can be viewed directly by the clients. Research has
shown that with a video profile, a job-aspirant increases his or her
chance of getting a dream job by 75%. For employers, WinHire
significantly reduces costs and time associated with hiring a
candidate.WinHire has more than 25 clients including PWC, Oracle, CGI,
Airbus, AdityaBirla group among others.
About Apps Genius Corp
Apps Genius Corp (www.appsgenius.com)
develops, markets, publishes, and distributes social games and software
applications that consumers can use on a variety of platforms. The
platforms include social networks, wireless devices such as cellular
phones and smart phones, including the Apple iPhone (News - Alert)™, and standalone
websites. Our Entertainment Division focuses on leveraging the fan base
of existing social media and entertainment brands to market apps and
games developed. To date, we have released several games for the Apple (News - Alert)
iPhone™ and Facebook™. Apps Genius Corp's goal is to develop and publish
new titles on a recurring basis that are based on the same property and
gaming platform. A core focus of our Social Gaming and Mobile
Application development is to allow users and players to reach across
different networks into a virtual application or gaming environment such
as Facebook, MySpace, iPhone and Android (News - Alert) and be able to play games and
use applications from all users no matter what environment they are
using the application in.
Forward-Looking Statements
Statements about the future expectations of Apps Genius Corp, and all
other statements in this press release other than historical facts, are
"forward-looking statements" within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended, and as that term is defined in the
Private Securities Litigation Reform Act of 1995. Apps Genius Corp
intends that such forward-looking statements shall be subject to the
safe harbors created thereby. Since these statements involve certain
risks and uncertainties and are subject to change at any time, Apps
Genius Corp's actual results could differ materially from expected
results.

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