White label online video provider Roo Group, which powers video services for MSN, Excite, FT and others, has bought out a small online video sharing site MyVideoDaily. The price: $350K and half a million Roo shares (Roo is traded on OTC board), which by yesterday’s price would be a total of around $1.7 million.
Besides MVD’s own site, it operates 18 domains and distributing multiple video software titles, the company said. The site had been a customer of ROO’s for over a year. More details in the release here.