Ideation Acquisition Corporation and SearchMedia International Limited to Present at the ROTH China Conference
October 08 2009 - 7:30AM
Marketwired
Ideation Acquisition Corp. ("Ideation" or the "Company") (NYSE
Amex: IDI) (NYSE Amex: IDI.U) (NYSE Amex: IDI.WS) and SearchMedia
International Limited ("SearchMedia") announced today that Robert
Fried, President and Chief Executive Officer of Ideation, Garbo
Lee, President of SearchMedia, Andrew Gormley, Executive Vice
President of Finance of SearchMedia and Earl Yen, Vice Chairman of
SearchMedia, will present at the ROTH China Conference in Miami
Beach, Florida. The presentation is scheduled to occur at 4:30 p.m.
Eastern time on Tuesday, October 13, 2009.
A live and archived webcast of this presentation and a copy of
the presentation slides will be available on the Investor Relations
section of the Ideation website at www.ideationacquisition.com.
About Ideation Acquisition Corp.
Ideation is a publicly traded special purpose acquisition
corporation, or SPAC, formed to acquire one or more businesses with
a focus on the media sector. As of June 30, 2009, Ideation has in
its trust account approximately US$78.8 million (including deferred
underwriting fees of US$2.7 million) from the proceeds raised
through its initial public offering in November 2007 and interest
thereon. As of June 30, 2009, the amount per share available upon
liquidation of the trust was approximately US$7.8815. Ideation is
headquartered in Wilmington, Delaware.
About SearchMedia
SearchMedia is a leading nationwide multi-platform media company
and one of the largest operators of integrated outdoor billboard
and in-elevator advertising networks in China. SearchMedia
currently operates a network of over 1,500 high-impact billboards
with over 500,000 square feet of surface display area and one of
China's largest networks of in-elevator advertisement panels
consisting of over 175,000 frames in 57 cities throughout China.
SearchMedia ranked first in market share of in-elevator advertising
displays in 13 out of the 26 most affluent cities in China and
ranked second in an additional nine of these cities, according to
Nielsen Media Research. Additionally, SearchMedia operates a
network of large-format light boxes in concourses of eight major
subway lines in Shanghai. SearchMedia's core outdoor billboard and
in-elevator platforms are complemented by its subway advertising
platform, which together enable it to provide multi-platform,
"one-stop shop" services for its local, national and international
advertising clients that numbered more than 780 cumulatively from
its inception to July 31, 2009.
Forward-Looking Statements
Any statements contained in this press release that do not
describe historical facts may constitute forward-looking statements
as that term is defined by the United States Private Securities
Litigation Reform Act of 1995. Any such forward-looking statements
contained herein are based on current expectations, but are subject
to a number of risks and uncertainties that may cause actual
results to differ materially from expectations such as material
adverse events affecting Ideation and SearchMedia, their ability to
complete a business combination and those other risks and
uncertainties detailed in Ideation's filings with the Securities
and Exchange Commission (the "SEC"). Ideation and SearchMedia
caution readers not to place undue reliance upon any
forward-looking statements, which speak only as of the date made.
Ideation and SearchMedia do not undertake or accept any obligation
or undertaking to release publicly any updates or revisions to any
forward-looking statement to reflect any change in their
expectations or any change in events, conditions or circumstances
on which any such statement is based.
Additional Information
In connection with the proposed transaction, Ideation and ID
Arizona Corp. filed Amendment No. 4 to Form S-4 containing a proxy
statement/prospectus in conjunction with the transaction with the
SEC on September 30, 2009. A definitive Proxy Statement/Prospectus
was mailed to Ideation stockholders on October 5, 2009. INVESTORS
AND SECURITY HOLDERS OF IDEATION ARE URGED TO READ A DEFINITIVE
PROXY STATEMENT/PROSPECTUS AND OTHER DOCUMENTS FILED WITH THE SEC
CAREFULLY IN THEIR ENTIRETY. Investors and security holders will be
able to obtain free copies of the Registration Statement and the
definitive Proxy Statement/Prospectus and other documents filed
with the SEC by Ideation through the website maintained by the SEC
at www.sec.gov. Free copies of the Registration Statement and the
Proxy Statement/Prospectus and other documents filed with the SEC
can also be obtained by directing a request to Ideation, 1105 N.
Market Street, Suite 1300, Wilmington, Delaware 19801.
Contact: Devlin Lander ICR (415) 419-5606
devlin.lander@icrinc.com
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