This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Onstream Media Acquires Certain Assets And Operations Of Intella2

POMPANO BEACH, Fla., Dec. 3, 2012 /PRNewswire/ --  Onstream Media Corporation (OTCQB: ONSM), a leading online service provider of live and on-demand corporate audio and web communications, virtual event technology, and social media marketing, today announced that on Friday, November 30, it acquired certain assets and operations of Intella2 Inc., a San Diego-based communications company. The acquisition brings Onstream a list of over 2,500 customers as well as software licenses, equipment, network infrastructure, and a recurring revenue stream.  The services acquired from Intella2 include a host of complementary offerings, including audio conferencing, web conferencing, text messaging, and voicemail services.

The Intella2 assets and operations were purchased by Onstream Conferencing Corporation, a wholly owned subsidiary of Onstream Media and will be managed by Onstream's Infinite Conferencing division, which specializes in audio and web conferencing.  Onstream will embark on a marketing campaign to cross sell its services to Intella2's list of over 2,500 customers. Additionally, Onstream's customers will benefit from the extended list of bundled offerings from the Intella2 acquisition.  

"Based on Intella2's low operating costs and high gross margins, we expect that the added revenue from the acquired operations will translate into improved operating results for Onstream in fiscal 2013 and beyond," said Randy Selman, President and CEO of Onstream Media.

Paul Cohen, President and CEO of Intella2, remarked, "Over the last decade, we have built a solid customer list, providing small and medium-sized enterprises with a range of high-quality telecom and internet-based communications. We believe that we are providing Onstream with a suite of services that can now be profitably cross-marketed with the Onstream and Infinite offerings."

The revenues of the acquired operations for the trailing twelve months as of August 31, 2012 were approximately $1.4 million, including free conferencing business revenues of approximately $300,000.  The total purchase price was approximately $1.1 million of which Onstream paid 65% at closing and which was financed primarily by new debt.  The 35% balance, plus an additional earn out of up to $200,000, will be paid based on the acquired assets and operations meeting or exceeding certain revenue targets over the next year.



1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,979.13 +59.54 0.35%
S&P 500 1,986.51 +4.91 0.25%
NASDAQ 4,526.4820 -1.0320 -0.02%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs