Narrowstep Sale To Onstream: Deal Value Cut From $11.8 Million To $5.1 Million
This story was written by Rafat Ali.
Sign of the times: Narrowstep, the online video service provider which was acquired by Onstream Media earlier in the summer for an estimated $11.8 million in an all stock transaction, will see the deal value change. From the initial 11.1 million shares that Narrowstep was supposed to get, it has now been reduced to 8.1 million shares, and some other changes have been made along the way, such that the total deal value now stands at around $5.1 million. Narrowstep was founded in UK in 2006, but was based in Princeton, NJ. It has been involved in online video services from UK's ITV (LSE: ITV), especially in its local video service. More details in release.
By Rafat Ali