Valdor Technology gains TSX-V OK for VideoWare deal

Feb 24, 2014

VALDOR GAINS APPROVAL FROM THE TSX-V FOR $1,800,000 PER YEAR STREAMING VIDEO ACQUISITION

Valdor Technology International Inc. has received approvals from the TSX Venture Exchange for the acquisition of the business and all the assets of VideoWare Inc., a wholly owned subsidiary of ViewCast.com Inc., located in Grapevine, Tex. VideoWare has been in business for eight years and revenue for the calendar year ending December, 2013, was in excess of $1.8-million.

Valdor acquires the business and assets of VideoWare with payment of $500,000 following receipt of TSX-V approval. An additional payment of $600,000 is secured by a promissory note to be paid by March 21, 2014. A 7-per-cent royalty on gross sales from the VideoWare business will be paid to ViewCast over a five-year period, to a maximum of $1.75-million. Valdor is financing the acquisition of the VideoWare business and assets through a combination of debenture and equity financing. (Please see Valdor news release dated Jan. 29, 2014.)

Elston Johnston, chairman of the board/director, states: “We are acquiring an asset that is in a great business sector and that has industry-leading product lines. In addition to a business in its growth mode, we are acquiring a strong, experienced and motivated management team. We are confident we have both the team and product lines to aggressively grow this business. Our new portable GoStream line is in high demand and we are just now beginning to deploy it.”

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