Limelight Media Group Inc., which creates, manages and supports out-of-home digital advertising networks, announced that on June 30, 2005, it completed its acquisition of IMPART Inc., a full-service provider of dynamic media solutions that includes communications networks comprised of plasma or LCD displays that deliver content from PC-based media players and can be offered in a wide variety of hardware configurations.
The all-stock transaction -- detailed in the company\'s 8K filing to be filed with the Securities and Exchange Commission -- includes a reincorporation in Delaware within 90 days. The companies intend to centralize operations in Seattle. As part of the deal, IMPART Inc. will maintain its name and brand identity and operate as a wholly owned subsidiary of Limelight Media Group Inc. There are no anticipated layoffs expected at either company as a result of the acquisition and the existing management team for both organizations will remain intact.
Contact: www.impartinc.com; www.limelightmedia.com.
