infoTECH News

[November 04, 2009]

ClearOne announces acquisition of NetStreams for cash and debt

Nov 04, 2009 (M2 EQUITYBITES via COMTEX) -- Provider of audio conferencing solutions ClearOne (Nasdaq: CLRO) on Tuesday announced the acquisition of NetStreams Inc, a provider of digital media networks based on Internet Protocol (IP) technology.

NetStreams' 2009 revenues are anticipated to be in excess of USD5.0m.

ClearOne had reported revenues of USD35.7m for year-end 30 June 2009.

Under the terms of the acquisition, ClearOne paid approximately USD2.0m in cash and assumed approximately USD2.0m of long-term debt. In addition, ClearOne will also make earn out payments over the next two years based on achievement of certain performance criteria.

NetStreams' 2009 revenues are anticipated to be in excess of USD5m.

ClearOne reported revenues of USD35.7m for its fiscal year ended June 30, 2009.

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