Spare Backup Signs Federal Warrantee Services and Lifestyle Group

Spare Backup, Inc. sees a progressive ramp in revenue from its distribution agreements with several major mobile warrantee and protection plan providers beginning in the first quarter of 2011.

Spare Backup has recently signed a number of distribution agreements in Europe and North America including with its major U.S. online partner as well as Federal Warrantee Services Corporation (an Assurant Solutions company) referenced in its 8k filings on November 24, 2010, and Lifestyle Group, referenced in its 8k filings on December 14, 2010 with the Securities and Exchange Commission respectively.

Through these distribution agreements Spare Backup’s various security, data transfer, backup, and cloud computing software services will be marketed to end customers through a number of stand-alone and bundled warrantee or extended service plans.

The various offerings will enable Spare Backup’s services to reach tens of millions of potential customers through bundled offerings and unique point of purchase extended coverage programs. Management expects revenue to begin a progressive ramp beginning in the first quarter of 2011 and throughout the year as these partners market the services to their channel partners, which include some of the largest retailers and financial industry services providers in the world. Management further believes that the bundled programs will provide for a more predictable revenue stream for the company.

"We are excited to begin this new phase of growth for our company as we begin to realize the potential and power of what we have built here at Spare Backup," stated Cery Perle, CEO of Spare Backup. "These partnerships have markedly changed our delivery model and place us now directly at the point of purchase for a new mobile device and largely bundled as part of a total care package for the customer. Through this delivery method we are perfectly positioned along with our partners to create a win-win scenario by reducing claims for lost or stolen phones, but more importantly, increasing the satisfaction of our customers by giving them the ability to remotely message or lock a lost phone and even remotely wipe data all the while knowing that data is safely tucked away in the cloud," Mr. Perle went on to add.

"Data on mobile devices is now the life blood of business and also integrated into the core level of the consumer making the security of that device, and its content, as important as the device itself. Our products not only provide that security, they go beyond it by bringing it to the cloud and making it agnostic across a wide variety of devices so it can easily grow as technology grows."