November 1, 2008 – (HOSTSEARCH.COM) – Unique Broadband Systems, Inc. (http://www.uniquesys.com/) announced recently that Look Communications Inc. (http://www.look.ca), a 51% controlled subsidiary, has executed an Asset Purchase Agreement with Bluegenesis.com Corporation for the sale of its web hosting and domain businesses. The cost of the purchase was announced as approximately $3.8M Cdn ($3.9 US).
Alongside the purchase the companies have engaged in a 40-month shared hosting marketing and licensing agreement where Look and Bluegenesis will jointly promote the EasyHosting brand, working on a revenue share basis.
A publicly listed Canadian company, UBS has a 51.7% fully diluted economic interest in Look Communications Inc. and other assets. Look Communications Inc. is an M(3) (Mobile Multi Media) information, communications and entertainment service provider in Ontario and Québec, Canada. Look offers a range of communications services, including high-speed and dial-up Internet access, web applications, and digital television to both business and residential markets.
