CHARLOTTE, NC, Dec 9, 2013 - Revolutionary Concepts Inc., (OTCQB: REVO), a publicly traded company that designs and develops mobile video software and remote security communication systems, announced that it has been in talks with one of the world's largest internet related service companies to sell or license its patented mobile product portfolio. Several other companies have expressed strong interest in acquiring REVO'S system, in what many believe could be a revolutionary technology in the $16 billion alarm system service industry.
REVO developed the "EyeTalk Communicator," a wireless mobile video, remote smart camera security technology. The system is designed to provide nationwide protection and monitoring of homes and businesses against multiple threats including robbery, fire, theft, burglary and other intrusions through mobile phones, wireless video and remote smart camera security technology. The "EyeTalk" System is projected to revolutionize the mobile and online security services market by selling a patented system designed to provide an unprecedented level of wireless communication, property protection, interactive services and security solutions. The "EyeTalk" system will interface with smart devices such as iPhone, iPad, Blackberry and Android, and represents the new frontier in the use of wireless smart devices for protection and security.
In the last few years, many large companies have realized the growing power of the internet, wireless technologies and the use of mobile devices to generate higher revenues and profits. This has resulted in significant and substantial amounts of capital being raised and expended to acquire these companies and wireless mobile communication technologies.
On June 19, 2013, Yahoo! Inc., acquired "Tumblr," an internet blog posting website for $1.10 billion. Tumblr was started in 2007, and generated $13 million in revenues in 2012, and $13 million in the first quarter of 2013. According to Yahoo's Form 10-Q Report for June 30, 2013, the $1.10 billion acquisition, included $113 million in liabilities, for a net purchase price of $990.2 million. The acquisition price of $1.10 billion was 84 times Tumblr's $13 million in revenues for 2012.
In August 2012, Facebook Inc. acquired Instagram, a mobile phone-based photo-sharing service. Instagram was started in October of 2012, had 16 employees and reported no revenue at the time of the closing of the transaction. According to Facebook's Form 10-K Annual Report for December 31, 2012, the purchase price of $521 million included $433 million allocated to "goodwill."
Revolutionary Concepts President, Ron Carter states,
"We have been in talks with several companies regarding the acquisition and licensing of our patented system, the talks with this $50 billion multinational internet company appears to be a good fit for us with strong synergies. We're very excited because of the potential marketing of the product through the many internet and wireless based mobile communication channels that they have, and many more that are rapidly developing. If we are successful in completing the transaction of the sale or licensing of our technologies, we may not obtain a price $500 million to $1.10 billion range as in the case of the acquisitions of Tumblr and Instagram; however it does give an indication of the kinds of prices these firms are willing to pay to acquire companies with revolutionary products like ours. Based on our discussions with some of these firms, we believe we could sell or license our patented system in the high multi-million dollar range."