(PublicWire) — ubroadcast, inc. (OTCBB: UBCI), a leader in Internet Broadcasting, today announced that it has signed a definitive agreement to acquire Alexandria, VA-based iVu Media Corp., the developer of a state-of-the-art Video Content Management (VCM) system that works in tandem with a High Definition Playback technology. iVu Media’s clients include Sony, Ford and Honda. For 2009, iVu Media had revenues of less than $500,000.
John Castiglione, ubroadcast’s President, stated, “We are more than pleased to have identified and completed this acquisition of iVu ahead of schedule as we look to further grow the Company.”
He concluded, “This acquisition gives us valuable tools and resources to build on and expand our current business model. We intend to complete more acquisitions and mergers of this caliber in order to build ubroadcast in to what we feel will be a tremendous success for our users, partners, and shareholders.”
Broadcasters and viewers can sign up for a free trial account, then start broadcasting LIVE, at www.ubroadcast.com.
About ubroadcast, inc.
UBCI’s ubroadcast.com allows users to produce and broadcast LIVE and On Demand television and radio in high quality. By blending this user- generated content and UBCI’s own original programming in a single application, UBCI bridges the gap between Internet video and traditional network radio and television.
Rolling Stone magazine, About.com, TechCrunch.com, and ABC News have all given ubroadcast media attention, and The San Diego Business Journal headline stated that the market for ubroadcast programs could be “Larger than MySpace and YouTube.”
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