Mandalay Digital Group to Collaborate with Intel Capital on Strategic Opportunities

    Mandalay Digital Group to Collaborate with Intel Capital on Strategic

PR Newswire

LOS ANGELES, Dec. 6, 2012

LOS ANGELES, Dec. 6, 2012 /PRNewswire/ --Mandalay Digital Group, Inc. (OTC
Markets: MNDL), a leading global mobile data services provider, today
announced it will work with Intel Capital, Intel Corporation's global
investment organization, on strategic opportunities. As part of the
collaboration, Mandalay Digital Group has signed a definitive agreement to
acquire the music label assets of mobile entertainment studio skyrockit, an
Intel Capital portfolio company, and Intel Capital will become a shareholder
of Mandalay Digital Group.

"Intel Capital has made a massive impact in the technology innovation
landscape and we look forward to working with them on this deal and others to
follow," stated Peter Adderton, chief executive officer of Mandalay Digital
Group. "Acquiring the music label assets from skyrockit is a great opportunity
for us as we continuously enhance Digital Turbine's content offerings creating
a robust alternative content eco-system for our OEM and carrier partners."

"We are excited about Mandalay Digital Group and what they are doing in the
mobile space and look forward to working with them on other strategic
opportunities," states Marc Yi, managing director, Intel Capital.

Digital Turbine is an innovative, comprehensive and fully-integrated
cross-platform user interface and multimedia management system for OEMs which
sits atop each of the various operating systems to provide a consistent
experience for the user.Digital Turbine allows users to find, consume and
managecontent like no other experience has before. With its unique ability
to manage and find content, create brand pages and leverage its unique IQ
search experience, Digital Turbine allows content to come to the consumer
rather than the traditional way of the consumer having to find content.

At the close of this transaction, Mandalay Digital Group will become an Intel
Capital portfolio company.

About Mandalay Digital Group

Mandalay Digital Group is at the convergence of internet media content and
mobile communications. It delivers a mobile services platform that works with
mobile operators and third-party publishers to provide portal management, user
interface, content development and billing technology that enables the
responsible distribution of mobile entertainment. Mandalay Digital is
headquartered in Los Angeles and has offices in Europe, Israel and Latin
America to support global sales and marketing. For additional information,

About skyrockit

skyrockit is an award-winning global mobile entertainment studio that delivers
scalable, results-driven products, services and campaigns for carriers,
handset manufacturers, brands and consumers that marry entertainment,
advertising and technology. skyrockit is currently the only mobile
entertainment studio that licenses and aggregates content to all four Tier 1
U.S. mobile carriers - AT&T Mobility, Sprint, T-Mobile, and Verizon Wireless.
The company's portfolio of mobile products includes the award-winning Virtual
Zippo Lighter, with more than 16 million users worldwide and ROMPLR, its
patent-pending music remix platform. With more than 1.1 million users, ROMPLR
is the number one music remix application across iPhone and Nokia handsets,
and has been the centerpiece of massively successful campaigns for brands such
as vitaminwater. To date, more than 25 million consumers have downloaded the
company's applications since its founding in 2001. skyrockit has generated
more than $300 million in revenue for its partners and more than 100 million
pieces of content have been consumed. Headquartered in San Francisco, CA,
skyrockit is backed by Intel Capital, Asuka DBJ Partners, and individual
investors. For more information, please visit the company web site at

About Intel Capital

Intel Capital, Intel's global investment and M&A organization, makes equity
investments in innovative technology start-ups and companies worldwide. Intel
Capital invests in a broad range of companies offering hardware, software, and
services targeting enterprise, mobility, health, consumer Internet, digital
media, semiconductor manufacturing and cleantech. Since 1991, Intel Capital
has invested more than US$10.7 billion in over 1,257 companies in 53
countries. In that timeframe, 201 portfolio companies have gone public on
various exchanges around the world and 308 were acquired or participated in a
merger. In 2011, Intel Capital invested US$526 million in 158 investments with
approximately 51 percent of funds invested outside the U.S. and Canada. For
more information on Intel Capital and its differentiated advantages, visit or follow @Intelcapital.

Forward Looking Statement

Statements in this news release concerning future results from operations,
financial position, economic conditions, product releases and any other
statement that may be construed as a prediction of future performance or
events are forward-looking statements which involve known and unknown risks,
uncertainties and other factors which may cause actual results to differ
materially from those expressed or implied by such statements. These factors
include uncertainties as to levels of orders, ability to record revenues,
release schedules, market acceptance of new products, changes in economic
conditions and market demand, pricing and other activities by competitors, and
other risks including those described from time to time in the Company's
filings on Forms 10-K and 10-Q with the Securities and Exchange Commission
(SEC), press releases and other communications.

Hayden IR
Brett Maas, Managing Partner
(646) 536-7331

SOURCE Mandalay Digital Group, Inc.

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