Pageant Holdings Invests €500K in Digital Reach Group to Fund Expansion Plans

Online, May 21, 2010 (Newswire.com) - Dublin Ireland, May 21, 2010: Dublin-based Irish mobile services company, Digital Reach Group (DRG) has this week completed an investment deal with Irish investment group, Pageant Holdings just nine months since its inception. The investment of €500k is forecasted to fund the company to profitability and will be used to facilitate the expansion of DRG's sales, technology and finance teams. DRG currently employs 10 specialised staff based in Dublin, with a team of 20 planned by the end of the year.

Commenting on the deal DRG CEO Colm Grealy said: "This investment is further endorsement of our management team and business strategy and puts us in a great position to service and support our customers. To date, our success can be attributed to having a remarkably innovative and forward-thinking team. We are excited by new digital platforms and we look forward to hiring more like-minded employees. We aim to drive our business forward and further expand our services within the advertising and digital media industries in Ireland."

Pageant Holdings has interests in a number of Irish and European businesses with a portfolio that includes media businesses and tele-health monitoring technology company, BodyTel Europe. Pageant Holdings together with NCB Ventures purchased Irish video rental chain Xtra-vision from Blockbuster Inc. in August 2009.

DRG delivers mobile advertising, app and content publishing solutions for publishers, advertisers and ad agencies. Recent successes include:

- Winning deals to sell and manage mobile advertising on behalf of Meteor, RTE and a network of other popular smartphone applications through its mobile web advertising division, Adforce.
- Creating the highly successful RTE News Now iPhone app, which became Ireland's number one news app on iTunes within two days of its release and remains at the top of the charts to this day.
- Launching Ireland's first Quick Response (QR) codes service through ScanLife - a 'point and scan' mobile marketing service. By scanning a unique barcode displayed alongside a printed ad, editorial, on merchandise or displays smartphone owners can have instant access to extra information on their handsets.

From its foundation, DRG has been privately funded by its management team- Colm Grealy, CEO; Denis Lally, Finance Director; and Kevin Foley, Sales Director and new chairman of the Mobile Marketing Association in Ireland.

-END-

Media queries:
Bernice Burnside, Bvisible Communications, 353-1- 8452401
www.bvisible.ie; [email protected]

Editor's Note:
DRG was represented by legal advisors Robert Heron and Jon Bayle of Matheson Ormsby Prentice for the deal.

About DRG
Irish digital communications company Digital Reach Group (DRG) was established in September 2009 and comprises two divisions. Adforce is its advertising network and sales division and provides a single point of contact for media agencies and brands wishing to buy advertising across a number of the most visited mobile Internet sites in Ireland. A second division, Digital Reach offers a full end-to -end service to website publishers including advertising sales, apps and the ad-serving technology.

DRG currently employs 10 people from its Dublin offices with plans for expansion in the coming months.

Existing partners include RTE, Meteor, Vodafone, advertising agencies and their clients. More information can be found at www.drg.ie

About Pageant Holdings Ltd
Pageant Holdings is a private investment company which acquired a majority stake in Xtra-vision in August 2009 when it was acquired by Birchhall Investments for €20million. Birchhall Investments minority shareholder is the Ulster Bank Diageo Venture Fund which is managed by NCB Ventures. Pageant Holdings is a minority shareholder in Zamano plc.