Today’s Deals: Frontline Acquires PlanetMedia

 Convergent Companies (CVGT) acquires
KTWave

  
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Amount:        
Undisclosed

  
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Terms:           
100% stock

  
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Premium:        n/a

  
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Industry:        Internet
services

  
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Scorecard:      C+

SANTA CLARA, Sept. 29–Convergent Companies , a provider of online video to the mass Internet market,
announced that it acquired KTWave, a developer of technology that
produces next generation compression, video streaming, and 3D multimedia
and digital media integration applications. The company anticipates that
this acquisition will accelerate the delivery by Convergent of quality real
time video to the Internet. The transaction is in the form of a stock
purchase by Convergent of all of the outstanding shares of KTWave. Other
terms of the transaction were not disclosed.




 

  
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Amount:        
Undisclosed

  
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Terms:           
n/a

  
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Premium:        n/a

  
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Industry:       
Content/Communities

  
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Scorecard:      C

HOUSTON, Sept. 29–Internet Law Library
announces the acquisition, by stock, of Houston-based Venco Compliance,
which sells OSHA compliance and training programs related to chemicals and
other hazardous materials such as those used by dry cleaners, medical
facilities, and paint shops. In addition to its profitable direct sales,
the company is developing an e-commerce Web site for purchases of its
products and dissemination of safety-related legislation. Internet Law Library expects the
acquisition to increase bottom line revenues. Terms of the transaction were
not disclosed.




 

 Frontline Communications (FNT) acquires
PlanetMedia

  
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Amount:         $1.6
million

  
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Terms:           
cash and stock

  
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Premium:        n/a

  
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Industry:      &nbsp E-commerce
enablers

  
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Scorecard:      C+

PEARL RIVER, N.Y., Sept. 29–Frontline Communications , announced that it acquired PlanetMedia, a rapidly growing
Web development and e-commerce solutions firm. PlanetMedia of Babylon, New York
specializes in sophisticated, interactive e-commerce sites and is being
acquired by Frontline for a purchase price of up to $1.6 million,
comprised of $400,000 cash at closing and $100,000 shares of Frontline common stock, and $300,000 in
convertible debt. The remainder of the purchase price is a combination of
cash and convertible debt contingent on PlanetMedia achieving certain
earnings thresholds set on a two-year schedule.




 

 Pacific WebWorks (PWEB) signs LOI to acquire
Logio (LGIO)

  
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Amount:        
Undisclosed

  
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Terms:           
n/a

  
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Premium:        n/a

  
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Industry:        Performance
software

  
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Scorecard:      C

SALT LAKE CITY, Sept. 29–Developer of business software technology
for the Internet based on its proprietary source code, Pacific
WebWorks , announced that they have executed a letter
of intent to acquire Logio , headquartered in Salt
Lake City, Utah, and a business information service company providing
valuable resources for business professionals competing in today’s
marketplace. The letter of intent provides for a 30 day formal due
diligence period after which the companies intend to enter into an
agreement whereby Pacific
WebWorks will acquire all of the outstanding shares of Logio through a stock-for-stock exchange,
in which Logio will deliver approximately 17,500,000 common shares in
exchange for 2,700,000 common shares of Pacific WebWorks.