10|21|2010 01:11 am EDT
According to this press release, modem manufacturer Zoom Telephonics sold the domain name Zoom.com and related trademark assets for the equivalent of $344,800 in Equity to Zoom Technologies Inc. (NASDAQ: ZOOM). The seller received 80,000 shares in the buying company as compensation and is given the right to divest these shares over the course of 15 months after signing.
Zoom Technologies will assume all rights to the zoom.com domain name after a 4 month transition period. During the transition period both companies will share the zoom.com home page, and a single click will transfer someone to the home page of either Zoom Telephonics or Zoom Technologies. The companies have agreed to cooperate in order to affect a smooth transition of email addresses.
[Thank you George]