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iEntertainment Network Inc., a provider of entertainment software for
online distribution, said on Thursday it has received merger offers and retained a strategic advisor to help
explore its strategic options.
The company, based in Research Triangle Park, N.C., said an entertainment-focused Nasdaq company and private entities were among the potential suitors that had approached it. The company retained Concordia Capital Technology Group Inc. to help evaluate its alternatives.
"Our intention has been to build the company independently," Chief Executive Mike Pearce said.
"Retaining a financial advisor is prudent at this time to build shareholder value," Pearce said, adding that
iEntertainment's low stock value was not a reflection of its financial growth.
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