QualityStocks would like to highlight Apps Genius Corp (OTCBB: APGS), developer and seller of social games and software applications. The company creates innovative social games and mobile applications that allow people to play together with real-world friends and family using the infrastructure built by social and wireless networks. Their Social Gaming and Mobile App technology allows users and players to reach across the different networks into a virtual application or gaming environment. They also have unique player incentive platforms that allow users to share in the success of the game or application.
In the company’s news yesterday,
Apps Genius has signed a binding letter of intent to acquire recruiting and talent management solutions company, Renaissance Partner Group Inc. (RPG), DBA WinHire Inc.
Per the agreement, shareholders of RPG will be issued 65 percent of the issued and outstanding shares of Apps Genius after the closing of the merger.
WinHire, an innovative technology product company based in the United States with offices in Bangalore, is focused on the staffing and recruitment industry. The company has developed a video social recruitment portal that enables people around the world to connect to desired jobs through video profiles. The portal allows job-seekers to upload their video profiles, which can be viewed directly by WinHire’s client base, which includes PWC, Oracle, CGI, and Airbus.
Apps Genius’ acquisition of WinHire provides an entry into the $499 billion Recruitment and Global Staffing Market and allows the integration of WinHire’s next generation social recruitment platform with the social games of Apps Genius.
Giri Devanur, the current CEO of RPG, will be appointed CEO of Apps Genius; Adam Kotkin will remain an officer and director of the company.
“I am extremely excited that Giri Devanur will be taking the reins of Apps Genius to drive it to the next level,” Kotkin, CEO of Apps Genius stated in the press release. “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.”
WinHire has projected unaudited sales of roughly $1.7 million for full-year 2012, an important note as Apps Genius looks to participate in the B-to-B market.
“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,” Kotkin stated.
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