Tuesday, November 3, 2009

ClearOne Snags NetStreams

Salt Lake City-based ClearOne, which develops and sells audio conferencing systems, said Tuesday that it has acquired NetStreams, a Texas firm developing digital media networking hardware based on Internet Protocol (IP) technology. ClearOne said it paid $2M in cash, plus assumed approximately $2M in long term debt for NetStreams. The deal also includes unspecified earn out for NetStreams. ClearOne said that it expects 2009 revenues from NetStreams to be in excess of $5 million. NetStreams has approximately 20 employees based in Austin, Texas, and was venture backed by Austin Ventures.