POMPANO BEACH, FL—Onstream Media Corp. (NASDAQ:ONSM), which sells live and on-demand digital media and applications, has agreed to merge with New Jersey based Infinite Conferencing. Onstream paid $14 million in cash and 1.38 million shares of its restricted common stock for the company equity.

Onstream raised $11 million in private equity financing to fund the transaction, selling its restricted common stock at $2.25 a share.

Onsteam CEO and President Randy Selman said, “Infinite Conferencing adds a series of key components to our product line, most notably audio conferencing, which we believe will result in an approximate 75 percent reduction in our audio conferencing per minute costs.

“Additionally, they possess a highly effective and efficient multi- channel marketing and sales operation, including aggressive Internet-based marketing techniques such as search optimization and other traffic building mechanisms, as well as a strong focus on customer retention and referrals.”

Keith Maddox, co-founder and CEO of Infinite Conferencing, said, “This is a perfect marriage; a text book example of where the sum will be greater than the parts. Onstream’s leading edge technology will be very appealing to our approximately 2,000 clients, and Infinite’s highly reliable and easy-to-use audio and web conferencing will be very appealing to Onstream’s webcasting and digital media services platform clients.

For more information see: www.onstreammedia.com

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