had entered into a Content Distribution Agreement (CDA) with Kamera
Content AB, providing for a collateralized and callable advance
payment by ROO of US$300,000. The CDA provides ROO with an exclusive
time period during which to fully negotiate the acquisition of Kamera.
The binding CDA was signed between the companies on March 12, 2008, at
the same time as the execution of a non-binding Letter of Intent (LOI)
for the purchase of 100% of the capital stock of Kamera by ROO.
Kamera is privately held and based in Stockholm, Sweden, with certain
back-office operations in Cairo, Egypt. Through its proprietary
software and content distribution agreements, Kamera enables corporate
clients such as Vodafone, MSN, Orange, Telefonica, O2, Hutchinson and
China Mobile to deliver IPTV channels to their customers over mobile
and online networks. Kamera's content library includes localized,
ready-to-publish clips from ABC News, Associated Press (AP), SNTV and
others, and its proprietary ingestion engine allows for video content
to be transcoded into any mobile/digital format.
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