Xcyte Digital Corp. Finalizes Acquisition of Webinar.net Assets

Xcyte Digital Corp., a leader in event technology, has completed the purchase of Webinar.net's assets. This acquisition includes Webinar.net's technology and revenue-generating assets, following a previous announcement on May 1, 2024.

Webinar.net is known for its online presentation platform, which offers simple and cost-effective solutions for hosting global webinars. Over the twelve months ending December 31, 2023, the acquired assets generated US$2.8 million in revenue and US$615,000 in EBITDA, as per unaudited figures.

Randy Selman, CEO of Xcyte Digital, stated, "Acquiring Webinar.net's assets is a strategic move to scale Xcyte's offerings. The platform will be integrated into our Xperience subscription service, enhancing our capabilities and accelerating revenue growth."

The terms of the acquisition require securities issued to be held for four months under Canadian law. They will also be restricted under U.S. securities law unless registered or exempt from registration under the Securities Act of 1933.