110 Media Group Acquires Global Portals Online.
2005-12-29, HostMan.biz
110 Media Group, Inc., an Internet marketing and subscription-based content distribution company, yesterday announced that it has completed the acquisition of software development company Global Portals Online in a stock swap deal designed to bolster 110's value.
Terms of the deal calls for 110 Media Group to acquire all outstanding stock of Global Portals Online, Inc. in exchange for 11,442,446 shares of 110 Media Group common stock. 110 Media said it plans to fully integrate the Global Portals Online products and brands into its operations immediately.
William Mobley and Andre Forde will assume the CEO and President positions respectively, within the restructured organization and Darren Cioffi will remain as the CFO.
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