20 September 2010

Z3 Enterprises, some time before known as Bibb Corp, has signed an agreement to acquire Usee for $105 million in stock.

According to agreement Usee will function as a wholly owned subsidiary of Z3, adding revenues of nearly $10 million annually to the parent company.

Z3 Enterprises announces that while it's focused on the acquisition, financing, and production of media related consumer products, the acquisition of Usee allows diversifying its revenue streams.

This transaction will also enable Usee to accomplish several other acquisitions of complementary companies in the VoIP space in the future.

Z3 Enterprises and Usee put in plans to raise around $150 million for Usee’s operations, including the promotion of its products and services on international market. Moreover, Z3 Enterprises intends to use Usee’s platforms for advertising and delivery of some of its video-based content, including educational programs and other corporate and consumer products.

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