HONG KONG, Dec. 7, 2011 (GLOBE NEWSWIRE) -- Artificial Life, Inc. (Pink Sheets: ALIF), a Hong Kong based investment company, today announced the execution of an application development agreement with WowWee Group Limited.
WowWee is a globally recognized, award-winning designer and manufacturer of high-tech toys and consumer entertainment products. With a focus on the development of breakthrough entertainment technology, WowWee produces some of the most innovative, inventive toys and gadgets on the market.
Through this partnership, Artificial Life with its subsidiary Alife Studios, Inc. will develop a series of smartphone applications for WowWee. The partnership started earlier this year when Artificial Life was chosen to develop the first smartphone application for WowWee, and the partnership has recently been extended for developing more applications.
"We are very excited about working with Artificial Life to develop a series of smartphone applications. They have a very talented development team and we are confident the partnership will be a huge success," said Josh Savage, Technical Director of WowWee Group Limited.
"This is the Company's debut to cooperate with a leading toy manufacturer to develop new and innovative smartphone applications. More importantly, we are proud to work with WowWee and are confident that our partnership will be a great success," said Eberhard Schoneburg, CEO of Artificial Life, Inc.
About WowWee
WowWee was founded in 1988 and maintains offices in Hong Kong, Carlsbad (California), Montreal (Canada), New York (New York), and Wauthier-Braine (Belgium).
The introduction of WowWee's Robosapien™ robot in 2004 revolutionized the way we interact with entertainment robotic companions.
One of the most popular entertainment robots in the world, with global sales of more than 6 million units, the Robosapien robot was the first commercially available biomorphic robot – a fusion of technology and personality. The Robosapien humanoid product line evolved to include 2005's Robosapien V2 robot, which added functionality like speech capability, and 2006's RS Media™ robot, which featured a complete multimedia experience that allowed users to create and edit functions. In 2008 and 2009, the next generation of personality-packed companions—the RS Tri-Bot™, Joebot, and Roborover robots—was released and provided endless entertainment with different play modes.
With a focus on the development of breakthrough consumer technologies, WowWee continues to forge new categories in personal robotics and entertainment with its imaginative, innovative, award-winning gadgets and toys. Consumers can see items from several distinct product lines -- WowWee Robotics™, Paper Jamz®, Light Strike™, Lite Sprites™, WowWee Alive™, WowWee FlyTech™, WowWee Technologies™ – that include innovations that walk, talk, jam, fire, color, purr, fly, and project.
For more information on WowWee Group Limited, please contact:
Scott Goldberg
About Artificial Life, Inc.
Artificial Life is a new kind of investor. We act as a global incubator and business network provider and facilitator for our holding companies, assisting them in their sales, production, and general business development activities. We invest mainly in the BRICS (Brazil, Russia, India, China and South Africa) markets with a focus on smartphone content and wireless technology such as: near field communication, mobile business apps and games, mobile health services, social networking apps and games, and mobile commerce.
Artificial Life, Inc. is a Delaware registered corporation founded in 1994 in Boston. We are a public US entity (Pink Sheets: ALIF) .Our global headquarters is in Hong Kong and our EMEA headquarters is in Berlin, Germany. We have won many industry awards for outstanding technology and products in prior years.
For more information on ARTIFICIAL LIFE, INC., please contact:
Artificial Life IR and PR Contact:
Tel: (+852) 3102 2800
The Artificial Life logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=1669
Forward-Looking Statements:
This press release contains "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. Such forward-looking statements include, without limitation, statements regarding our future results of operations, financial condition and business prospects. In some cases, you can identify forward-looking statements by terminology such as "may", "will", "should", "expect", "intend", "plan", "anticipate", "believe", "estimate", "predict", "potential", "continue" or the negative of these terms or other comparable terminology. Although such statements are based on our own information and information from other sources we believe to be reliable, you should not place undue reliance on them. These statements involve risks and uncertainties, and actual market trends or our actual results of operations, financial condition or business prospects may differ materially from those expressed or implied in these forward looking statements for a variety of reasons. Potential risks and uncertainties include, but are not limited to: the general economic conditions in the markets in which we operate; the success of our newly adopted business model and strategy; our ability to find investment targets for reasonable conditions; the economic conditions in the BRICS nations; our ability to sell equity or assets and intellectual property; our ability to obtain additional funding to operate and grow our business and to do investments; changing consumer preferences and uncertainty of market acceptance of our products; timely adoption and availability of broadband mobile technology; market acceptance for use of mobile handheld devices;; our reliance on a relatively small number of clients and brands; our ability to license brands from others; our dependence upon resellers and telecommunication carriers and operators to distribute our products; our ability to successfully develop, introduce, and sell new or enhanced products in a timely manner; and the timing of new product announcements or introductions by us or by our competitors. For additional discussion of these risks and uncertainties and other factors, please see the documents we file from time to time with the Securities and Exchange Commission, including our Annual Report on Form 10-KSB filed on August 2nd, 2011. We assume no obligation to update any forward-looking statements, which apply only as of the date of this press release.
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