Message #81 From:
NewsBot Date: February 21, 2007 06:13:00 AM
WIZD News Wizzard Software in Final Stages of Closing Acquisition of Liberated Syndication
PITTSBURGH--(BUSINESS WIRE)--Wizzard Software (OTCBB:WIZD), announced today that it is in the final stages of closing its acquisition of Liberated Syndication (Webmayhem Inc, DBA Liberated Syndication/Libsyn), the world's largest podcast hosting network.
"While the closing of this transaction has taken longer than both parties expected, we are now in the final stages and expect to announce the signing of a definitive merger agreement very soon," says Chris Spencer, CEO of Wizzard Software Corp. "We have been working very closely with the principle shareholders and top executives of Libsyn and we all continue to be extremely excited about the revenue generating opportunities this merger will have for Wizzard and for our podcast producers."
"This process, while intensive, has allowed us to learn even more about Wizzard, its capabilities in speech technologies and its passion for the podcasting medium. Simply put, speech recognition is the silver bullet for podcast advertising," says Dave Mansueto, co-founder of Libsyn. "We are more confident than ever that we have found the right home for Libsyn; one that will solidify our position as the leading podcast publishing and monetizing platform."
"Post the holiday season, we've seen tremendous growth - up 51% from the 42.0M downloads in October to 63.4M downloads for the month of January," says Dave Chekan, CEO of Libsyn. "Podcasting has proven itself to be a mainstream medium, and the audiences are growing. We are seeing more requests for more types of podcasts, from more consumers, than ever before. With new innovations like Apple TV on the way, internet media is evolving and extending its reach to new places (like the living room) which we expect to further the growth of the Libsyn platform."
About Wizzard Software
Founded in 1996, Wizzard Software has become a leader in the speech technology application development market. Wizzard architects solutions to business problems using its expertise in consulting, speech development tools and building speech based applications for the Desktop and Internet. Wizzard has achieved global recognition because of its expertise with voice communication whether it is via computer or telephone. Wizzard's successes have led to expanding speech technology opportunities in both the government and commercial sectors including several healthcare industry products and services. For more information, visit www.wizzardsoftware.com.
Legal Notice
Legal Notice Regarding Forward-Looking Statements: "Forward-looking Statements" as defined in the Private Securities litigation Reform Act of 1995 may be included in this news release. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. We disclaim any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to risks associated with changes in general economic and business conditions, actions of our competitors, the extent to which we are able to develop new services and markets for our services, the time and expense involved in such development activities, the level of demand and market acceptance of our services, changes in our business strategies and acts of terror against the United States.
