ViewCast Closes on Sale of DCi's Operations DALLAS � Nov. 22, 2005 � ViewCast Corporation (VCST.OB), a developer of video and audio communications products enabling dynamic content delivery, today announced the completion of the sale of the assets and operations of Delta Computec, Inc. (DCi), wholly-owned subsidiary, to an affiliate of Desrosier & Co., a private investment group based in Greenwich, Conn. Substantially all of DCi's assets, including operating assets, property, contracts and customer lists were sold for a combination of $3,000,000 in cash at closing, $300,000 in contingent cash payments and the assumption of certain liabilities as outlined in the terms of the agreement. The purchasing entity will continue as a ViewCast reseller channel and provider of service and support. Proceeds of the sale will be used to reduce debt and strengthen the company's balance sheet. "This sale of DCi is a sound business decision for both parties," said George Platt, CEO of ViewCast. "I am pleased that the transaction gives both companies the opportunity to strengthen and grow their core line of business, while we retain DCi as a valued business partner."
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About ViewCast Corporation
ViewCast develops video and audio communication
products for delivering content dynamically via a variety
of network types and protocols. These products include Osprey�
Video capture cards, Niagara� video encoders/servers and
ViewCast� IVN enterprise software and systems. Our products
address the video capture, processing and delivery requirements
for a broad range of applications and markets.
Visit the company's Web site (http://www.viewcast.com)
for more information.
Safe Harbor Statement
Certain statements, including those made by George Platt or Dave Stoner, contain "forward-looking" information within the meaning of the Private Securities Litigation Reform Act of 1995, which reflects the company's current judgment on certain issues. Because such statements apply to future events, they are subject to risks and uncertainties that could cause the actual results to differ materially. Important factors that could cause the actual results to differ materially include, without limitation, the ability of the company to develop and market new products as technology evolves and increased competition in the video communications and IT services market. All subsequent written and oral forward-looking statements attributable to ViewCast or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements set forth above. ViewCast does not intend or undertake any obligation to update any forward-looking statement to reflect circumstances or events that occur after the date on which the forward-looking statements are made. For a detailed discussion of these and other cautionary statements and factors that could cause actual results to differ from the company's forward-looking statements, please refer to the company's reports on Form 10-KSB and 10-QSB on file with the Securities and Exchange Commission.
ViewCast, Osprey, Niagara, Niagara SCX 5.0, GoStream and EZStream are trademarks or registered trademarks of ViewCast Corporation or its subsidiaries.
All other trademarks are property of their respective holders. |