ROO Group Announces Acquisition of MyVideoDaily

NEW YORK, Jan. 23 -- ROO Group, Inc. (OTC Bulletin Board: RGRP - News), a global leader in online video solutions for content providers, advertisers and Websites, today announced the acquisition of MyVideoDaily, a Web destination and software publishing company operating 18 domains and distributing multiple video software titles. The transaction provides ROO with a proven search engine marketing strategy that introduces new users to the company's portals and desktop applications. The purchase price included $350,000 cash payment plus an allocation of up to 500,000 ROO Group Inc shares based on achieving jointly agreed milestones. Additional terms of the transaction were not disclosed.
MyVideoDaily has been a customer of ROO's for over a year. Together the companies have built a number of software applications around ROO's core video service including a video desktop application which has been installed on over 750,000 desktops worldwide since the service began broad distribution in January 2006. The company's desktop presence will now provide ROO dedicated touch points through which the company can immerse active users within its expanding video content library.
MyVideoDaily's search marketing assets will be expanded to enable ROO's publishing partners to promote their properties. The company also brings online community features to ROO's portal products such as user comments and video rating systems. ROO's current enterprise level video partners will benefit from the acquisition by gaining access to a new suite of actionable reporting tools and the ability to respond to trends in real-time with advanced site/content management controls.
Current MyVideoDaily (www.myvideodaily.com) CEO Robertson J. M. Price will join ROO as Senior Vice President, Product & Network Management. In this capacity, Mr. Price will help manage ROO's growing distribution network and inventory expansion, while strengthening ROO's partner services solutions. Mr. Price will report directly to Steve Quinn, ROO Media's President and COO.
Commenting on the transaction, Robert Petty, Chairman and CEO of ROO, stated, "This transaction serves to expand the breadth of our content, distribution and technology offerings, while enhancing the overall value of our partnership network. Through MyVideoDaily's desktop video applications, we will gain direct access to thousands of consumers through our presence on their PC's. The addition of Rob Price, an experienced executive in the online video space, will complement ROO's existing management team as we seek to further build on our comprehensive content library and vast distribution network."