Utah-based ClearOne buys Texas company

Utah-based ClearOne, which specializes in audio conferencing, has acquired Austin-based NetStreams Inc., a digital-media-networks company that uses Internet Protocol technology.

In announcing the acquisition, ClearOne said NetStreams' digital streaming media and control systems support virtually any number of digital or analog sources, including high-definition audio and video content to nearly an unlimited number of networked endpoints.

ClearOne paid approximately $2 million in cash and assumed approximately $2 million of long-term debt in the deal. In addition, ClearOne will make earn-out payments over the next two years, based on achievement of certain performance criteria.

Privately held NetStreams has approximately 20 employees and will continue to operate in Texas. NetStreams' 2009 revenues are anticipated to be in excess of $5 million. ClearOne reported revenues of $35.7 million for its last fiscal year ended June 30.