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Online service provider of live and on-demand Internet video company Onstream Media Corporation has signed a definitive merger agreement to acquire Narrowstep Inc., a company that dubs itself as the “TV on the Internet Company.” The merger is expected to result in a single comprehensive platform with a unique ability to acquire, store, manage, process, protect, monetize and deliver, digital broadcast quality video to TV’s, computers, portable gadgets, etc.

Shareholders of Narrowstep will receive 11.1 million shares of Onstream Media common stock plus the opportunity to earn up to an additional 8.9 million Onstream Media shares subject to Narrowstep’s business achieving substantial revenue growth targets during the 18 months following the acquisition. The acquisition is expected to close in approximately 90-120 days, subject to shareholder approval.

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