|By Marketwired .
|May 15, 2014 07:00 AM EDT
MINNEAPOLIS, MN -- (Marketwired) -- 05/15/14 -- Soul and Vibe Interactive Inc. (OTCQB: SOUL), "The Company," a video and computer games company, today announced the signing of a multi-year licensing agreement to develop and publish new video games, entertainment apps, and digitally-distributed content based on the John Deere brand.
Under the agreement, Soul and Vibe will develop and publish games and entertainment apps based on John Deere's extensive line of agricultural and construction equipment, and more, for consoles, mobile devices, personal computers, and social media platforms such as Facebook. The Company also has the rights to develop and publish John Deere-branded virtual apparel and digital items for Avatars, as well as other digitally-distributed content.
"We're pleased to announce Soul and Vibe's new relationship with Deere & Company," said Soul and Vibe's CEO and President Peter Anthony Chiodo. "I've previously had the pleasure of working directly with the John Deere brand on a variety of successful games and entertainment products, and I am extremely excited to have the opportunity to do so again. The popularity of farming themed games and simulations is constantly growing. Entering that genre of the gaming market with a powerhouse brand holds strategic significance for Soul and Vibe. The John Deere brand strongly appeals to every age group across the world. Whether it is for the instantly recognizable equipment, high play-value toys, engaging children's books, or popular apparel, John Deere is an ideal licensed-brand partner for a games company. I look forward to sharing details on Soul and Vibe's plans for a diverse line of games, entertainment apps, and digitally-distributed content with our gaming customers and shareholders."
According to the website InsideFacebook, Supercell's farm-themed game Hay Day maintains an estimated 6.8 million daily user base and projects daily revenues of over $400,000. Zynga's FarmVille 2 has approximately 4.1 million daily users and it is estimated that over 400 million people have played Zynga's line of FarmVille games. VentureBeat notes Zynga brought in 80 million monthly active players during the height of the original FarmVille's popularity.
In March 2014, Soul and Vibe published Timeless Gems, a "Free-To-Play" innovative "match-3" puzzle game for Facebook, Android devices, and Apple's iPhone, iPad, and iPod Touch. Since its worldwide multi-platform launch, Timeless Gems downloads have rapidly surpassed 370,000 and, as announced on April 24, 2014, monetized content sales have outperformed the industry standard for a "Free-To-Play" game.
About Soul and Vibe Interactive Inc.
Soul and Vibe Interactive Inc. (also Soul & Vibe Interactive Inc. on www.sec.gov) is a publisher of games and games-related content for consoles, mobile devices, and personal computers addressing a $56 billion market projected to grow to $82 billion by 2015. The Company specializes in the creation of original intellectual properties and has extensive experience licensing world-renowned brands from influential companies. Soul and Vibe has license agreements with General Mills and Deere & Company, and game development and publishing agreements for the Xbox 360® video game and entertainment system, Windows 8, Windows Live, and Windows Phone from Microsoft, and the PlayStation® 3 computer entertainment system and PlayStation® Vita (PS Vita) from Sony. Through partnerships with technically sophisticated software developers located all over the world, Soul and Vibe transforms unique concepts into engaging, highly accessible, and affordable games and entertainment experiences. www.soulandvibe.com.
Safe Harbor Statement
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements, trends, analysis, and other information contained in this press release, including words such as "anticipate," "believe," "plan," "estimate," "expect," "intend," and other similar expressions of opinion, constitute forward-looking statements. Any such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.
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