Video - Wednesday, February 7, 2007
Roo Group Buys Partner MyVideoDaily
ROO Group [OTC RGRP) which does video solutions for content providers, advertisers and Websites, today announced the acquisition of MyVideoDaily, a Web destination and software publishing company that runs 18 domains. The purchase price included $350K cash payment plus an allocation of up to 500K ROO Group shares based on milestones.
MyVideoDaily says it has been a customer of ROO's for over a year. They have built a video desktop application which they claim has been installed on over 750K desktops since January 2006.
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