MB Technologies` 43%-owned subsidiary, LiveTechnology, has appointed Nasdaq-listed Jupiter Media Matrix as the exclusive worldwide perpetual reseller of its proprietary Internet traffic measurement technology, LiveStat.
In terms of the agreement, LiveTechnology will be paid an upfront licence fee of $3 million. It has also been granted a seven-year option to acquire 1.75 million Jupiter Media Metrix shares at $5 a share.
LiveTechnology will be paid a revenue share of 15% of the gross revenues of the sale of the LiveStat service recognised by Jupiter for the duration of the agreement.
Jupiter has also been granted the non-exclusive right to other LiveTechnology proprietary software which support the provision of the LiveStat service.
Other provisions include the granting to Jupiter Media Metrix of a purchase option to acquire the LiveStat business, including the source code, as a going concern.
MB Technologies says the option becomes effective 15 months from the signature date, and the price will be calculated on a multiple of revenues, dependent on the revenues generated by LiveStat and the market valuation of Jupiter Media Matrix at the time the option is exercised.
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