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ClearStory Systems (CSYS) RSS Feed

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Created
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ClearStory Systems, Inc. (OTC: CSYS) On May 3, 2006, ClearStory Systems, Inc. completed the disposition of assets pursuant to an agreement dated as of March 10, 2006 by and between ClearStory Systems, Inc. and Datawatch Corporation. Under the terms of the agreement, ClearStory Systems sold substantially all of the assets of its business unit that engaged in document solutions business activities, which are primarily fixed content, report management and electronic statement presentment, to Datawatch. At the closing on May 3, 2006, the Company received approximately $4.3 million in cash from Datawatch. In addition, Datawatch will pay the ClearStory Systems 30% of the future net revenues from all of the ClearStory Systems' former business unit's related products and services sold for the 18 months following the closing date. The closing of this transaction will allow ClearStory Systems to focus on its core digital media businesses. Henry F. Nelson, ClearStory chief executive officer, stated, "Over the past two years, we have made significant investments in our digital media platform, and this transaction allows us to concentrate our development and marketing energy on leveraging that investment, which has also been the recommendation of several industry analysts." On November 16, 2006 the company announced EContent Magazine has selected ClearStory Systems for the 2006 EContent 100 List of Companies that Matter Most in the Digital Content Industry. ClearStory's inclusion in the list demonstrates how important digital media-video, digital images, graphics, presentations, flash animation, and publishing files-has become for marketing, corporate and overall communications today. ClearStory's ActiveMedia suite of solutions manages the digital media supply chain-from creation to consumption-helping companies to repurpose, exploit and monetize this high value content for competitive advantage, new revenue streams, and marketing agility. "We nominate companies that continue to innovate and deliver products and services that further the evolution of the digital content industry," stated Michelle Manafy, editor-in-chief of EContent Magazine. Over the past year, EContent has reported on ClearStory's advanced DAM capabilities that power an innovative new business model for leading advertising agency, TracyLocke, and the digital media enterprise initiatives at Sony Pictures Entertainment. "To win a spot on this prestigious list is a real honor and greatly rewarding for our dedicated team. We are pleased that EContent has recognized our successful progress and the market adoption of ClearStory's award winning suite of digital media solutions," said Henry F. Nelson, ClearStory president and CEO. The EContent100 list is available in the December 2006 print issue of EContent and online at www.econtentmag.com. Shares of CSYS are thinly traded. The stock at last check was trading around 12 cents. The last available SEC filing shows the number of outstanding shares of CSYS to be about 6 million.
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