November 4, 2009 (FinancialWire) — Audio conferencing provider ClearOne (NASDAQ: CLRO) 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.

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) web site (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Free annual reports for companies mentioned in the news are available through the Free Annual Reports Service (http://investrend.ar.wilink.com/?level=279).

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.