November 21, 2002
Deal gives Loudeye more than 80 new customers
From: Seattle Post Intelligencer, WA
Nov. 21, 2002
SEATTLE POST-INTELLIGENCER STAFF
Loudeye Corp. is buying Streampipe, a 10-year-old Ardsley, N.Y., company that broadcasts meetings, training programs, product launches and conferences over the Internet.
The deal, valued at $4.3 million in stock and notes, gives Loudeye more than 80 new customers. It is expected to add $1 million in quarterly revenue to the Seattle company.
As part of the deal, Streampipe Chairman James Kuster will join Loudeye's board of directors. Some of Streampipe's technology, including closed captioning and tools for managing online events, will be incorporated into Loudeye's Webcasting service.
Streampipe's offices in New York and Washington, D.C., will remain open and Loudeye will retain its 30 employees. The combined company will have 149 employees.
Loudeye's stock closed at 41 cents.
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