Local.com® To Acquire Assets of Rovion, Inc.

http://finance.yahoo.com/news/Localcom-To-Acquire-Assets-of-bw-2145293363.html?x=0&.v=1

Rovion is a rich media advertising company which sells, creates, delivers and tracks rich media advertising including animated and video-based ads for local and national advertisers, including CBS Radio, Cisco and LendingTree. A complete list of advertisers and agencies that have used Rovion advertising products is available at: http://www.rovion.com/clientlist. Rovion has been certified for use by leading sites and ad networks including CBS Television Stations, Citadel Broadcasting Corporation, and AOL Advertising, Inc. (formerly Platform-A, Inc.).
Under the terms of the agreement, Local.com will acquire the assets of Rovion for $1.5 million in cash with an earnout of up to $7 million in cash and/or stock if certain performance criteria are met in the three-year period following the closing. The transaction is subject to customary closing conditions and is expected to close within approximately 90 days.