BOISE, Idaho, Aug. 8, 2012 /PRNewswire/ -- MediaG3, Inc., (OTCPK: MDGC), a provider of wireless broadband Internet solutions today announced the company has signed a definitive agreement to acquire privately held, HEXA-2 Corporation for $70M in an all-stock transaction. The conversion price is set at $0.30 per share of MediaG3 stock.
Upon completion of its due diligence and conclusion of its final proceedings in the next 30 days, there will be announcements on reorganization and industry expansion strategies with solid pro-forma of revenue streams for the combined company. Subsequently, MediaG3 intends to change its name and apply for a new CUSIP number and trading symbol. The combined companies shall undergo a third party valuation followed by audit to qualify the company for listing on OTC: BB or NASDAQ Small Cap markets.
"The collective value of the companies provides a new foundation serving 'interactive' needs of content delivery markets, (a term we coined as iCDN™). iCDN shall become the core foundation for delivering interactive content to most remote locations," said Ahmad Moradi, Chairman of HEXA-2 Corporation.
"MediaG3's technologies will become the foundation for new customer acquisition, retention and conversion in which HEXA-2 services shall become value-added services adjunct to current content delivery networks. We plan to pioneer iCDN as the world's first interactive content delivery network with perks and values for our select customers," said Val Westergard, Chairman of MediaG3, Inc.
The combined companies are set to compete for the multibillion dollar market of content delivery combined with high speed broad band wireless networks in both the domestic and international markets in Europe, South America, South East Asia including emerging markets in India and China.
About HEXA-2 CORPORATION
Think of HEXA-2® as a Live Interactive Social Media Platform integrated with Tele-presence providing many-to-many interactive video, VoIP, Instant Text, connected to 300+ social media sites, Content Manager, Conversion Server and more; offering Virtual Rooms for consumers and SMB. With its 1Click entry (No download, no plug-in or no installs), the company has built an all-in-one interactive digital media platforms for its global clients. In strategic partnership with NetStairs, from its inception, they combined science, art and technology into a platform founded on intelligent media delivery algorithms with a focus on interactive, live, on demand, and streaming, protocols. In March 2005, we started with our vision. In 2008, we added our Tele-presence vision. In 2012, we made our vision a reality. Today, the company offers a wide array of Tele-presence workflow solutions for Enterprises and IT companies. HEXA-2® platform is also connects to 105,000 servers in 1900 data centers in 87 countries. For more details, visit http://www.hexa2.com
About MediaG3, Inc.
MediaG3, Inc. designs, develops and deploys Broadband Internet products, services and solutions for today's fixed mobile customer who demand improved infrastructural enhancements for their tomorrow's needs. MediaG3's products and services are specifically designed to enable cost effective solutions for wireless communications and content delivery to targeted customers, provide complementary value-added off-load capabilities for wireless providers and wireless broadband to those lacking in infrastructure, speed or throughput. MediaG3's business growth stems from development and building small to large cell or micro cell networks serving subscribers. MediaG3, Inc. a Delaware Corporation is headquartered in Boise Idaho. For more information, please visit http://www.MediaG3.com
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements which are not historical facts contained in this press release are forward looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, government approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed in the Company's filings with the Securities and Exchange Commission.
SOURCE MediaG3, Inc.