Loudeye — that webcasting/encoding company with the impenetrably odd name — continues their feeding frenzy with the aquisition of “Streampipe”, another oddly-name company (one friend found it somewhat ecologically menacing, another remarked that it sounded like a euphemism for a male body part) that does corporate and government webcasts.
Streampipe brings Loudeye an additional 80 customers, estimated to bring in an additional $1 million per year. Loudeye traded 7.9 million shares (worth a little less than $3.3 million at market close) and a $1.1 million secured note (due 1/1/2004) for the priviledge.