Valdor Technology International Inc. (TSXV:VTI) entered into a binding letter of intent to acquire the assets of Videoware, Inc. from ViewCast.com Inc. (OTCBB:VCST) for $1.3 million on October 30, 2013. The purchase price of $1.25 million will be paid of which $1 million will be paid on or before the target closing date of December 2, 2013 and an additional $0.25 million will be paid on or before 60 days thereafter. A 7% royalty will be paid to ViewCast on gross sales from the VideoWare business to a maximum of $1.75 million over a five year period. Valdor intends to fund the acquisition of the VideoWare business and its assets through a combination of debenture and equity financing. The transaction is subject to completion of due diligence, the completion of a financing by Valdor, the receipt of all requisite TSX Venture Exchange approvals and/or consents and the approval by the Boards of Directors of Valdor and Videoware.

As on February 14, 2013, Valdor Technology International Inc. entered into an Asset Purchase Agreement to acquire all of the business and assets of VideoWare, Inc. under the terms of the agreement, Valdor Technology agreed to pay ViewCast $1.1 million, out of which $0.5 million will be paid on closing and $0.3 million will be paid on January 31, 2014 and February 28, 2014 respectively. Raj Kapany Director of Valdor is now Consultant. The transaction is subject to employment agreement and third party approvals.

As of February 21, 2014, Valdor has received approvals from the TSX-V for the acquisition of the business and all the assets of VideoWare, Inc. Valdor made payment of $0.5 million following receipt of TSX-V approval. An additional payment of $0.6 million is secured by a promissory note to be paid by March 21, 2014. Valdor Technology will assume liabilities of $0.14 million.