ubroadcast, Inc., a leader in Internet broadcasting that allows users to produce and distribute LIVE and on-demand television and radio in high quality, recently announced that the company has completed its merger with Santeon, Inc., a privately held, profitable developer of business process management software and solutions.
Santeon Inc. is a technology company that enables organizations to optimize performance and maximize revenues through its business process management software products and services. The company’s clients include state and local governments, federal agencies and numerous private sector customers. Santeon reported revenues of approximately $4 million and a net profit of $145,000 for 2009. This merger with Santeon was consummated with common shares of ubroadcast stock.
“This is our third and largest acquisition of a profitable software company in 2010,” stated John Castiglione, president of ubroadcast. “These acquisitions have accelerated our growth plan significantly, as well as added a world-class technology development team, seasoned executives, Fortune 500 clients, and a support staff of 80 across four countries with offices in Virginia, London, Egypt and UAE.”
More details of the merger, business strategy and the consolidation of ubroadcast, inc. and Santeon, Inc. will be released soon. For more information regarding ubroadcast, inc., please visit ubroadcast.com. For more information on Santeon, Inc. please visit santeon.com.
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