Migo Software Signs $2.0 Million Agreements with Kingston Technology
Kingston licenses award-winning Migo® synchronization and PC portability software for its entire Flash Drive line.
Redwood City, CA-- 09/06/2006 --Migo Software, Inc. (OTC: MIGO.OB) today announced the signing of a License Agreement with Kingston Technology Corporation. The renewable $1.850 million License Agreement grants Kingston, the independent global leader in memory products, a worldwide license to bundle and market Migo software on its entire flash drive line of products through December 2007. Separately, Migo Software also announced the signing of a Stock Purchase Agreement whereby Kingston has invested $150,000.
"We’re honored that Kingston not only recognizes the value that Migo adds to their flash drive line, but also that they have become a shareholder in Migo Software," said Migo Software CEO Kent Heyman. "Kingston started by bundling Migo with their ‘Data Traveler II Plus – Migo Edition’; that turned out to be so successful that they’re now expanding Migo to other products in the flash product line. This agreement will bring Migo to millions of new users."
Migo software provides computer users a safe, easy-to-use, traceless method of working on personal files and their own email - including Microsoft Outlook® and Outlook Express® - on borrowed computers, eliminating the need to bring along a PC or laptop of their own. Users connect their Migo-enabled device to a handy PC, and with a few clicks that PC turns into their own, right down to the wallpaper on their screen, for as long as they need it. When finished, Migo leaves no trace of their personal files behind, and upon returning home it synchronizes that work with their own home or office PC. A demonstration of Migo can be found at http://migosoftware.com/takethetour.php.
"This agreement is a significant development for both companies," said Mark Leathem, Director of Product Marketing for Kingston. "Now that we can add Migo to our other flash products, we can deliver an exciting new combination of technologies to help our customers increase their mobility. Carrying a Kingston drive now will mean carrying their PC along, complete with email and personal data. We look forward to further projects with Migo Software."
About Kingston Technology Corporation
Kingston Technology Corporation is the world’s largest independent manufacturer of memory products. Kingston, through its wholly-owned subsidiaries, designs, manufactures and distributes memory products for desktops, laptops, servers and printers, and flash memory products for PDAs, mobile phones, digital cameras and MP3 players. Kingston has manufacturing facilities in California, Malaysia, Taiwan and China, and serves a network of distributors, OEMs, and retail customers in more than 3,000 locations worldwide. For more information please call (800)337-8410, or visit www.kingston.com.
About Migo Software
Located at 555 Twin Dolphin Drive, Suite 650, Redwood City, CA, Migo Software, Inc. (OTCBB:MIGO.OB) is a global provider of secure mobile computing software. With its patent-pending technology, the Company’s award-winning Migo® synchronization and PC portability software increases business and personal computing portability, allowing users to take their Outlook® and Outlook Express® email on a portable storage device.
Migo Software’s website, found at www.migosoftware.com, provides additional information on the full line of Migo mobile computing products.
NOTE: Migo® is a registered trademark of Migo Software, Inc. All other company and product names mentioned may be trademarks or registered trademarks of their respective holders and are used for identification purposes only. Under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, statements in this press release that are not historical facts, including those statements that refer to Migo Software’s plans, prospects, expectations, strategies, intentions, hopes and beliefs and the expected benefits of the use of Migo Software products are forward-looking statements. These forward-looking statements are not historical facts and are only estimates or predictions. Actual results may differ materially from those projected as a result of risks and uncertainties detailed from time to time in the Company's Securities and Exchange Commission filings. These risks include, but are not limited to, risks related to: the effect of global economic conditions in general and conditions in the Company's industry and target markets in particular; shifts in supply and demand; commercialization and technological difficulties; capacity and supply constraints including dependence on flash component suppliers; changes in the Company's and its customers' inventory levels and in inventory valuations; timely product and technology development/upgrades and the ability to manage changes in market conditions as needed; market acceptance of new products and continuing product demand; the impact of competitive products and pricing on the Company's and its customers' products and markets; development, release and sales of new products by strategic suppliers and customers; and development and growth of anticipated markets for the Company's and its customers' products. Any forward-looking statements are based on information available to the Company today and the Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of future events, new information, or otherwise. Reference to the Company's website above does not constitute incorporation of any of the information thereon into this press release.
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