ubroadcast, Inc., a leader in Internet broadcasting that allows users to produce and broadcast LIVE and on-demand television and radio in high quality, recently announced that the company has signed a letter of intent to acquire X2A Consulting, LLC.
X2A Consulting is a privately held, profitable business software consulting company whose clients include Booz Allen Hamilton, Vodafone and employees of Microsoft, IBM, Siemens, Raytheon and Unisys. During 2009, X2A Consulting recorded revenues of approximately $500,000. Under the terms of the letter of intent, the acquisition will be made with ubroadcast stock and both the parties are to complete negotiations and sign a definitive agreement by the end of May 2010.
Ahmed Sidky, managing director of X2A Consulting, stated, “We are excited to be part of a company that has a vision of expanding its technology offering through innovation.” Mr. Sidky continued, “The step ubroadcast is taking to acquire an Agile training and consulting company shows its commitment to promoting the latest technology, and ultimately its dedication to bringing value to its customers quickly through various process improvement initiatives.”