HUNTSVILLE, Ala., May 11, 2009 (GLOBE NEWSWIRE) -- Mobular Technologies, Inc.(r) ("Mobular") today announced a joint marketing agreement with Merrill Corporation ("Merrill"), a leading publisher and electronic print provider in the financial services industry, to market an innovative new solution designed to address the mutual fund industries' requirements for the SEC's Summary Prospectus regulations.
The summary prospectus rule, approved in January 2009, requires mutual funds to deliver a summary section in the statutory prospectus. Fund companies can either print and mail the statutory prospectus or they can print and mail on a summary prospectus document to their shareholders, as long as they post the statutory prospectus to the internet within 24 hours, including specific navigation links defined by the SEC. The rule provides mutual fund companies with significant cost-saving opportunities -- estimated by the SEC at approximately $190 million annually -- and provides shareholders with easily accessible information.
Mobular recently released Summary PRO AR(r), a new software application designed to meet the technical requirements of the rule for linking and web presentation. Summary PRO AR(r) is built on the same technology platform as Mobular's market-leading Notice and Access solution, currently used by more than 3000 corporate issuers to meet the SEC's requirements for electronic shareholder meeting kits.
"We are excited to begin our joint marketing relationship with Merrill," stated Allen Dillard, chief executive officer of Mobular. "Our companies have worked together for several years, and we share similar business philosophies. We believe the joint solution -- a unique combination of our technologies and services -- will truly revolutionize the way the market thinks about solving electronic document delivery requirements in the future."
"Mutual fund companies will gain significant value through the integrated solution," said Roy Gross, president of Merrill's Marketing and Communication Solutions Business Unit. "Through the joint marketing agreement, we can help mutual fund companies substantially reduce costs, and at the same time, eliminate the challenges and resource demands of creating, maintaining and managing prospectus communications. Additionally, our solution preserves all of the original document formatting and branding that is so important to our clients."
About Mobular Technologies, Inc.
Mobular is the financial industry's leading provider of shareholder communications technology and services. To learn more about Mobular, visit www.mobular.com.
The Mobular Technologies logo is available at: http://www.globenewswire.com/newsroom/prs/?pkgid=1273
About Merrill Corporation
Founded in 1968 and headquartered in St. Paul, Minn., Merrill Corporation (http://www.merrillcorp.com/) is a leading provider of outsourced solutions for complex business communication and information management. Merrill's services include document and data management, litigation support, language translation services, branded communication programs, fulfillment, imaging and printing. Merrill's target markets include the legal, financial services, insurance and real estate industries. With more than 5,900 people in over 70 domestic and 15 international locations, Merrill empowers the communications of the world's leading companies.