The Pandora of music videos? Irvine, CA-based Ubiquity Broadcasting Corp. has entered into a non-binding deal to acquire ZUUS Media, a next generation media company operating the ZUUS multi-platform music video network. ZUUS is a music service offering 150 curated digital music video channels based on genre, decade and “mood” across mobile, tablet, web, Facebook, and connected TV platforms.
ZUUS also offers four genre-specific multicast TV networks (ZUUS Country, ZUUS Latino, ZUUS Hip Hop + R&B and ZUUS Hits) in over 60 million combined households.
Ubiquity says it’s a vertically integrated, technology-focused media company with a focus in five specific areas with a portfolio of patents and intellectual property. First, the company has developed an intuitive user interface making access to all content from any device in a simple, consistent format. Second, Ubiquity enables the search and identification of any object and image in all video and digital media. Third, it has developed a platform for mobile transaction including the integration of payments, money transfers, coupons and gifts. Ubiquity has also developed an intuitive, immersive consumer experience for all web-based activity. Lastly, the company allows for the personalization of all content, whether public or private, in a unique accessible way.
In addition to its catalog of premium music videos, ZUUS produces and broadcasts original content, including live footage, behind-the-scenes access, interviews, artist-hosted shows, and more. The acquisition is expected to create cross-selling opportunities for Ubiquity’s core product and service segments.
“We are excited about the addition of ZUUS to our portfolio of Web3.0 capabilities. The transaction will enable us to integrate ZUUS as a business division of Ubiquity, where it will be able to further develop and scale with the support of our infrastructure, intellectual property, technology and capabilities. In addition, the team at ZUUS brings a world-class network of creative talent and we look forward to working with them to continue building ZUUS Media’s prominence in the market,” said CEO Chris Carmichael.
Ubiquity says its plan is to acquire companies and enable them with its patented technology. This allows Ubiquity to bring companies to the forefront by providing a competitive advantage with its patent portfolio and technologies while leveraging the revenue opportunities.
Said Steve Goldstein, ZUUS co-founder and CEO: “We at ZUUS are thrilled with the prospect of joining forces with Ubiquity. The ZUUS multi-platform network will provide an invaluable showcase for many of Ubiquity’s products, assets and capabilities. We look forward to building on Ubiquity’s unique strengths to enhance our audience’s total experience across our television and digital platforms.”
The ZUUS transaction is valued at roughly $30M. From what we’ve heard, Ubiquity used to be a donut machine marker, has $800K in the bank, and intends to do this as a 100% stock deal. To satisfy the purchase price, the company intends to issue shares of Ubiquity restricted common stock with a price per share to be determined on or as of the date of the closing of the purchase.