Corrected: HandHeld Entertainment Acquires For $1.5 Million

HandHeld Entertainment, maker of the ZVUE digital video players, has acquired for a total of $2.5 $1.5 million — $1.5 million $500,000 in cash and a five-year $1 million note convertible to common stock. Jeff Oscodar, president and CEO of HandHeld Entertainment, said in the release that the deal strengthens the company’s content for digital video players and for PCs. He also sees as a way to promote the players and send traffic to launched in November 2005 and had more than 850,000 uniques in October. Hit videos include a cute kitten falling asleep and the McDonald’s Order Song.
Correction: The total sales price actually was $1.5 million, not the higher numer originally reported, and the mistake was mine. My appreciation to reader nwelsh for raising the question.