| Home : October 02 2010 Computer News : NeuLion Announces the Closing of Its Previously Announced Acquisition of TransVideo |
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NeuLion Announces the Closing of Its Previously Announced Acquisition of TransVideo |
October 02, 2010
PLAINVIEW, NY--(Marketwire - October 1, 2010) - NeuLion, Inc. (TSX: NLN) (the "Company"), an end-to-end IPTV service provider of live and on-demand sports, international and variety programming over the Internet, Charles B. Wang, the Chairman of the Board of Directors of the Company, and AvantaLion LLC ("AvantaLion"), a company controlled by Mr. Wang, announced today the closing of NeuLion's previously announced acquisition of all of the issued and outstanding shares of TransVideo International Ltd. ("TransVideo"), in exchange for 22,000,802 common shares of the Company (the "Common Shares"). TransVideo is one of China's largest IPTV technology providers and a manufacturer of set top boxes utilized by the Company. The acquisition was approved by the shareholders of the Company on September 27, 2010. The former TransVideo shareholders currently own approximately 14% of the Company.
Link: http://www.marketwire.com/mw/release.do?id=1328615&sourceType=3
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