ubroadcast.com Signs Letter of Intent to Merge With Santeon, Inc.
SAN DIEGO, CA -- (Marketwire)
03/10/10
ubroadcast, inc. (OTCBB: UBCI), a leader in Internet Broadcasting, today announced that it has signed a letter of intent to merge with Alexandria, VA-based Santeon, Inc., a privately-held, profitable developer of Business Process Management Software and Solutions. Santeon's clients include several state and local governments such as the State of Maryland, federal governments such as the Department of Defense as well as numerous private sector customers such as Sage Software, DHL and many dozens of Healthcare organizations. For 2009, Santeon had revenues of approximately $4,000,000. This merger with Santeon will be made with ubroadcast stock. Pursuant to the letter of intent, the parties are to complete negotiations and sign a definitive agreement by the end of March 2010.
Broadcasters and viewers can sign up for a free trial account, then start broadcasting LIVE, at www.ubroadcast.com.
About ubroadcast, inc.
UBCI's ubroadcast.com allows users to produce and broadcast LIVE and On Demand television and radio in high quality. By blending this user-generated content and UBCI's own original programming in a single application, UBCI bridges the gap between Internet video and traditional network radio and television.
Rolling Stone magazine, About.com, TechCrunch.com, and ABC News have all given ubroadcast media attention, and The San Diego Business Journal headline stated that the market for ubroadcast programs could be "Larger than MySpace and YouTube."
Please visit www.ubroadcast.com for more information, and follow us on Twitter: www.twitter.com/ubroadcast; MySpace: www.myspace.com/ubroadcast; and on Facebook.
Safe Harbor Statement
This press release contains statements that may constitute forward-looking statements, including the company's ability to complete a business acquisition. These statements are based on current expectations and assumptions and involve a number of uncertainties and risks that could cause actual results to differ materially from those currently expected. For additional information about UBCI's future business and financial results, refer to UBCI's Annual Report on Form 10-K for the year ended December 31, 2008. UBCI undertakes no obligation to update any forward-looking statements that may be made from time to time by or on behalf of the company, whether as a result of new information, future events or otherwise.
Contact:
Jason Sunstein
ubroadcast, inc.
jason@ubroadcast.com
858 692 2677
