Apr, 2002 : Sensar Completes Merger With VitalStream
📅 - Investment firm Sensar Corporation said yesterday it had completed its merger with VitalStream Inc. (VitalStream.com -> inap.com), a digital broadcasting solutions firm.
Under the agreement, which received over 98% approval from VitalStream common shareholders, Sensar will begin doing business through VitalStream, which is now a Sensar subsidiary, and will move its headquarters to Irvine, California. The company said that in connection with the merger, at closing, all officers and directors of Sensar resigned and were replaced by the management team and directors of VitalStream.
Founded in March 2000, VitalStream provides a range of products and services that enable the digital broadcast of audio and video content and other communications over the Internet. These services include audio and video streaming, Web conferencing and media hosting. The company currently has more than 500 customers worldwide.
According to Sensar, VitalStream currently generates revenue of $275,000 per month. While the company has incurred net losses during each quarter and month to date, the firm plans to reach EBITDA profitability by the end of 2002.
Sensar said more information about the merger will be made available within approximately two weeks. A merger agreement was signed by the two firms in mid-February.
Under the agreement, which received over 98% approval from VitalStream common shareholders, Sensar will begin doing business through VitalStream, which is now a Sensar subsidiary, and will move its headquarters to Irvine, California. The company said that in connection with the merger, at closing, all officers and directors of Sensar resigned and were replaced by the management team and directors of VitalStream.
Founded in March 2000, VitalStream provides a range of products and services that enable the digital broadcast of audio and video content and other communications over the Internet. These services include audio and video streaming, Web conferencing and media hosting. The company currently has more than 500 customers worldwide.
According to Sensar, VitalStream currently generates revenue of $275,000 per month. While the company has incurred net losses during each quarter and month to date, the firm plans to reach EBITDA profitability by the end of 2002.
Sensar said more information about the merger will be made available within approximately two weeks. A merger agreement was signed by the two firms in mid-February.
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Company: vitalstream.com [vitalstream.com -> inap.com]
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