The letter of intent that Roo signed to purchase the New York-based company will aid distribution of its video content as Wurld specialises in the P2P distribution of music, movies, games and TV shows.
Wurld currently has content deals 20th Century Fox, WB, Universal, Sony, Warner, EMI, Fox Music, Fox for Movies, Atari and Activision, all of which are planned to continue post-deal.
Last month Roo signed a deal with News Corp giving the Murdoch-owned media giant a 10 per cent share of the business which supplies video technology and content to websites of the Sun, Times and Daily and Sunday Mirror in the UK.
The fee for the latest deal will be paid in cash and stock. An initial fee of £763,000 will be paid to Wurld Media with £3.3 million in stock or cash being paid on closing of the acquisition. The remaining fee will be paid on the achievement of certain milestones.
Robert Petty, CEO of Roo, said in a press release that the deal would enable his clients to engage audiences across different media - including online, mobile and IPTV - thus increasing the reach of their video products.
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