MINDEN, NV — (Marketwire) — 07/21/11 — Spare Backup Inc. (“Spare Backup”) (OTCBB: SPBU) today announced that it has amended its master services agreement with Lifestyle Services Group Limited, the largest provider of affinity distributed mobile device protection products in the UK.
Under terms of the amendment, Lifestyle Services Group will distribute Spare Backup-s data back up and security product through their vast network of “repair and service” organizations. Terms of the amendment call for Spare Backup-s software to be installed on mobile devices repaired or replaced by Lifestyle Services Group as a result of a customer-s claim. The software will be offered for installation on compatible devices as the customer will then receive a short term “free trial” of the backup and security product. Once the free-trial period has ended, the customer will be notified and has the opportunity to cancel. If the customer elects not to cancel he/she will be billed a monthly reoccurring charge for the product. If the equipment being returned is beyond repair, Spare Backup-s product will be used to wipe the customer-s data from the original device and to restore all previously backed up customer data to the replacement device. Both parties expect a significant volume of units to be activated from the over 500,000 customer interactions per month. Rollout is due to begin within 90 days.
As part of the deal, Spare Back-up has agreed to provide exclusivity for Lifestyle Services Group across all of its range of products in the UK, except for existing partners. The exclusivity of this relationship allows Lifestyle Services Group to offer a unique solution in the UK market that both supports mobile handsets on all UK Network Carriers, as well as offering the widest compatibility range across device manufacturers. It is an obvious natural progression to their mobile device protection products.
The security features included in the package also being exclusively distributed by Lifestyle Services Group include the ability to lock a mobile device, wipe data from a device or enable an alarm on a device.
Cery Perle, Chief Executive Officer of Spare Backup, stated, “This represents a unique opportunity for Spare Backup. We believe substantial revenue growth can become evident in a relatively short period of time due to this channel and approach. It is Lifestyle Services Group-s intent to launch this program within the next 90 days, therefore as the free-trial periods ends and customers continue to utilize our software we will then expect to see revenues from this agreement within the fourth quarter of this year. I also believe that giving Lifestyle Services Group an exclusive offering within the UK is another major step in building a strategic long term relationship. Lifestyle Services Group is dedicating Business Development resources to help our business because they believe it enhances the services they provide to their existing customer base.
Andy Morris, Business Development Director at Lifestyle Services Group stated “We are really pleased to be working with Spare Back-up in this exclusive relationship, and it means we will continue to grow our unique, innovative and market leading solutions that support the Mobile Life. A major benefit of this combined Back-up and Security solution is that it works across a very wide range of portable gadgets including handsets, tablets, laptops, and also allows desktop data back-up and file sharing, all within the same account.
This relationship means we can continue to actively develop the next generation of mobile protection products focused more on supporting customers- lives via their mobile device. The first of these is likely to be a family centric solution.”
Lifestyle Services Group is the leading provider of affinity distributed solutions to support the consumer desire to live their life through their mobile devices.
Lifestyle Services Group manages largest active mobile phone insurance base in the UK. With over 1000 employees based in 3 locations across the UK, Lifestyle Services Group supports many of the High Street Banks and Mobile Networks in delivering mobile centric lifestyle related products to add value to their customer propositions.
Lifestyle Services Group is part of a multi-billion pound group of consumer companies, including Phones4U, Dial-a-Phone and EZ Pay. For more information, go to
Lifestyle Services Group Ltd is registered in England and Wales. Company number 5114385. Registered Office: Osprey House, Ore Close, Lymedale Business Park, Newcastle Under Lyme, Staffordshire, ST5 9QD. It is authorized and regulated by the Financial Services Authority.
Spare Backup, Inc. specializes in helping consumers, small office/home office users and small to mid-sized businesses protect their computer data quickly, automatically and cost-effectively. The company-s flagship Spare Backup product is the first totally automated online backup service that intelligently selects, secures and stores files without any user intervention, automatically backing up documents, email, music, photos and other PC files on a continuous basis or according to the schedule of the user-s choice.
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking information made on the company-s behalf. All statements, other than statements of historical facts, which address the company-s expectations of sources of capital or which express the company-s expectation for the future with respect to financial performance or operating strategies can be identified as forward-looking statements. Such statements made by the company are based on knowledge of the environment in which it operates, but because of the possibility of unknown factors, as well as other factors beyond the control of the company, actual results may differ materially from the expectations expressed in the forward-looking statement. An investment in our common stock involves a significant degree of risk. You should not invest in our common stock unless you can afford to lose your entire investment. You should consider carefully all risk factors and other information in our annual report and quarterly filings before deciding to invest in our common stock. If any of the following risks and uncertainties develops into actual events, our business, financial condition or results of operations could be materially adversely affected and you could lose your entire investment in our company.
Forward Looking Statements:
This press release contains forward-looking statements that involve a number of risks and uncertainties, including statements regarding the outlook of the Company-s business and results of operations. By nature, these risks and uncertainties could cause actual results to differ materially from those indicated. Generally speaking, any statements using terms such as “will,” “expect,” “anticipate,” or “may,” or which otherwise predict or address future results or events, are likely to contain forward-looking statements. It is important to note that actual results may differ materially from what is indicated in any forward-looking statement. Readers should consider any forward-looking statements in light of factors that could cause actual results to vary. These factors are described in Spare Backups filings with the SEC, and readers should refer to those filings, including Risk Factors described in those filings, in connection with any forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise
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