Thursday, August 2, 2007

HandHeld Buys eBaum's World

San Francisco-based HandHeld Entertainment announced this morning that it is in a definitive agreement to acquire eBaum's World, an online entertainment and video sharing site. HandHeld said it will pay $17.5M for eBaum's World, made up of $15M in cash, $2.5M in stock, and $2.5M in stock with a one-year hold back. The company also said that it may pay up to $32.5M in earnouts over three years to the owner's of eBaum's world. eBaum's World is an online site providing user-generated content, and includes both online video as well as games, jokes, and photos.