ubroadcast Closes Merger With Santeon, Inc.
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San Diego, CA --(www.USEquityNews.com)-- 05/11/2010 - ubroadcast, inc.(OTCBB: UBCI), a leader in Internet Broadcasting, today announced that it has closed its merger with Alexandria, VA-based Santeon, Inc. (http://santeon.com/), a privately held, profitable developer of Business Process Management Software and Solutions. Santeon's clients include several state and local governments such as the State of Maryland, federal government such as the Department of Defense, as well as numerous private sector customers such as Sage Software, DHL and many dozens of Healthcare organizations. For 2009, Santeon had revenues of just under $4,000,000 and a net profit of $145,000. This merger with Santeon was consummated with common shares of ubroadcast stock.
John Castiglione, President of ubroadcast, commented: "This is our third and largest acquisition of a profitable software company in 2010. 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 4 countries with offices in Virginia, London, Egypt and UAE."
Mr. Castiglione concluded, "Thank you to everyone for the support, dedication, and hard work that has resulted in the completion of the merger with Santeon. We look forward to this next chapter in our growth as we consolidate our operations and embark on what we feel will be a very bright and successful future for the company."
The Company also announced that Mr. William Aul has been appointed corporate and securities counsel and will be assisting management and the Board of Directors with the disclosure of additional events and personnel appointments, as the Company works diligently to consolidate operations.
More details of the merger, business strategy and the consolidation of ubroadcast, inc. and Santeon, Inc. will be released soon.
About ubroadcast, inc.
UBCI's ubroadcast.com allows users to produce and broadcast LIVE and On Demand television and radio in high quality. By blending this user-generated content and UBCI's own original programming in a single application, UBCI bridges the gap between Internet video and traditional network radio and television.
Rolling Stone magazine, About.com, TechCrunch.com, and ABC News have all given ubroadcast media attention, and The San Diego Business Journal headline stated that the market for ubroadcast programs could be "Larger than MySpace and YouTube."
Please visit www.ubroadcast.com for more information, and follow us on Twitter: www.twitter.com/ubroadcast; MySpace: www.myspace.com/ubroadcast; and on Facebook.
About Santeon, Inc.
Santeon is a technology company that enables organizations to optimize performance and maximize revenues through its business process management (BPM) software products and services -- solving complex business process, compliance and integration challenges from both a system integration and a human process perspective. Santeon also offers rich media content management solutions and platforms as well as business process outsourcing (BPO) services as to medium and large enterprises. For more information please visit the Web site at http://www.santeon.com/.
Safe Harbor Statement
This press release contains statements that may constitute forward-looking statements, including the company's ability to complete a business acquisition. These statements are based on current expectations and assumptions and involve a number of uncertainties and risks that could cause actual results to differ materially from those currently expected. For additional information about UBCI's future business and financial results, refer to UBCI's Annual Report on Form 10-K for the year ended December 31, 2008. UBCI undertakes no obligation to update any forward-looking statements that may be made from time to time by or on behalf of the company, whether as a result of new information, future events or otherwise.Contact Information:
Jason Sunstein
ubroadcast, inc.
jason@ubroadcast.com
858 692 2677
U.S. Equity News
Tel: (949) 517-2426
Email: info@usequitynews.com
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