Tuesday, November 3, 2009

Netstreams Acquired By ClearOne

Austin-based Netstreams, a developer of digital media networking technology, has been acquired by ClearOne, a Utah-based provider of audio conferencing products, ClearOne said Tuesday. According to ClearOne, it paid approximately $2M in cash plus assumed $2M in long term debt for Netstreams. The deal also included an unspecified amount of earn out. ClearOne said NetStreams will continue to operate from its Austin location, where it has approximately 20 employees. ClearOne anticipates that NetStreams will have 2009 revenues in excess of $5M. NetStreams was venture backed by Austin Ventures, and had raised somewhere around $28M in funding since 2004.