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November 4, 2009 (FinancialWire) -- Audio conferencing provider ClearOne (NASDAQ: CLRO | Quote | Chart | News | PowerRating) has acquired NetStreams, Inc., a firm that offers digital streaming media and control systems.
Austin, Texas-based NetStreams offers digital media networks based on Internet Protocol technology that is used in a range of applications, including digital signage, corporate video distribution, network operations centers and government facilities, and large venues in such industries as hospitality, entertainment and casinos.
The company's systems a number of digital or analog sources, including high definition audio and video content to nearly an unlimited number of networked endpoints.
Under the terms of the transaction, ClearOne paid approximately $2 million in cash and assumed around $2 million 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.
Privately-held NetStreams has around 20 employees and will continue to operate from its current location, according to ClearOne.
Salt Lake City-based ClearOne develops and sells audio conferencing systems and other related products for audio, video, and web conferencing applications.
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Free annual reports for companies mentioned in the news are available through the Free Annual Reports Service (http://investrend.ar.wilink.com/?level=279).
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