Everstream Acquires AdAcoustics

Everstream (www.everstream.com), a software company focused on targeting of audio and video advertising, announced that it has entered into a definitive agreement to acquire AdAcoustics and its New York-based parent, The MusicBooth LLC, an advertising services and technology company that owns numerous patents for targeted advertising via cable, satellite, Internet and wireless networks. Financial details of the transaction were not released.Everstream states that they hope to unite its experience with AdAcoustic's technology to focus on the one-to-one advertising market via cable and satellite.

"This acquisition creates an everstream entity that is technologically ahead of the pack for already-emerging trends in broadcast advertising: "Narrowcasting" or one-to-one techniques for cable and satellite mediums based on specific demographics or characteristics of individual viewers," said everstream president and chief executive officer Stephen McHale.

As part of the acquisition, AdAcoustics President Robert Wolfe will join the everstream board of directors and become executive vice president and general counsel of everstream. Burt Manning, an AdAcoustics board member and former chairman and chief executive officer of J. Walter Thompson Worldwide, will also join everstream's board of directors. everstream states that it will maintain facilities in both Cleveland and New York.