Logica Closes Acquisition Of Dolphin Digital Media

The acquisition paves the way for Logica Holdings, Inc. (Logica) to create and manage social networking websites around Dolphin's core brands of popular television programs for children, including Nickelodeon's top-rated series Zoey 101, Ned's Declassified School Survival Guide, and the mystery movie franchise Roxy Hunter, among many others. Earlier this year, Dolphin Digital became the exclusive ten-year licensee of Dolphin Entertainment's worldwide digital rights to its current and future properties.

Under the terms of the acquisition, Logica exchanged 24,063,735 shares of Common Stock, equal to 51% of its fully diluted issued and outstanding Common Stock, in exchange for the entire issued share capital of Dolphin Digital. Based on the trailing five-day average closing price of Logica Common Stock prior to the closing, this had an approximate market value of $20.2 million.

"Our merger with Logica will help us deliver the highest standards of online safety for children and tweens around our properties and eventually other destinations," said Bill O'Dowd, President and Chief Executive Officer of Dolphin Digital and Dolphin Entertainment (Dolphin). "With Logica's proprietary state-of-the-art biometric security platform behind our highly popular brand content, we are confident that we can create a safe and desirable online environment for young audiences."

"We are excited to be working with Dolphin Digital Media," said Pino Baldassarre, Chief Executive Officer of Logica. "We are committed to creating a secure and protected online environment for young people where users must be authenticated before entering our websites, enabling our children to experience the Internet in a safe and secure environment."

Dolphin Entertainment controls the international distribution of its programming, with its roster of highly successful programs available in more than 100 countries and 300 million homes worldwide. "Zoey 101," in particular, has been a major hit since its premiere on Nickelodeon in January, 2005, having been nominated for an Emmy Award for Outstanding Children's Program that same year. "Zoey 101" and other shows produced by Dolphin have achieved several ratings records in the United States and Canada, and have performed exceptionally well overseas. Many of Dolphin's international broadcast partners have created the most successful online campaigns in their history utilizing Dolphin properties.

At the heart of Logica's high-tech security platform are the solutions of its technology partners: Novell Corporation, Rackspace, Fujitsu, and 123ID, all integrated through an exclusive worldwide license with Weblock International. Working with its technology partners, Logica is able to offer a proprietary platform of identity management and database solutions. -- www.cnxmarketlink.com