takes the search out of search
Phoenix (PRWEB) March 2, 2006
Modavox, Inc. (OTCBB: MDVX) announces the completion of its merger with Kino Interactive Group, LLC. The merger marks a major milestone in Modavox’s efforts to carve out its niche in the burgeoning online distribution of on-demand video and audio. The combined entity, operating under Modavox's name, unites Modavox's leadership position in internet talk radio and Kino's capabilities in online delivery of rich digital media.
The merger strengthens Modavox’s management team and brings Modavox a roster of new clients and developing business opportunities. Through StreamSafe™, WebcastWizard™ and Stream Syndicate™ -- powerful new proprietary tools acquired in the merger -- Modavox also expands its product line to managed access for live and on-demand internet broadcasting and syndication; content management; and online meeting, event management, enterprise communications and distance learning.
"The merger gives Modavox more scale and momentum,” said Modavox CEO David Ide, “and recurring revenue. We expect this merger to be accretive, resulting in enhanced stockholder value." Modavox acquired Kino for $3 million in common stock and convertible preferred. The transaction was structured as a tax-free reorganization with Kino merging into a wholly-owned Modavox subsidiary.
Modavox, Inc. (http://www.modavox.com) is a pioneer in internet broadcasting, producing and syndicating online audio and video, and offering innovative, effective and comprehensive online tools for reaching targeted niche communities worldwide. Modavox is the leading producer and distributor of online, talk radio content, streaming approximately 250 hours of live programs and scheduled replays weekly on its Modavox VoiceAmerica™ Network (http://www.voiceamerica.com). Through its patented Modavox Central™ technology, Modavox “takes the search out of search,” delivering content straight to desktops and internet-enabled devices
This release contains “forward-looking statements” for purposes of the Securities and Exchange Commission’s “safe harbor” provisions under the Private Securities Litigation Reform Act of 1995 and Rule 3b-6 under the Securities Exchange Act of 1934. These forward-looking statements are subject to various risks and uncertainties that could cause Modavox’s actual results to differ materially from those currently anticipated, including the risk factors identified in Modavox’s filings with the Securities and Exchange Commission.