Gentner Communications Corp., 1825 Research Way, has completed the acquisition of all products, product rights and technolgy of MacroMedia Inc.
Purchase terms consist of a combination of stock and cash for $200,000 and a four-year employment agreement with Tim Valley, MacroMedia president, and a non-competition agreement for the length of the employment plus two years.Gentner didn't assume any of MacroMedia's financial obligations.
William V. Trowbridge, Gentner president, said Valley will play an important role in the company's development of digital audio storage products. He has more than 20 years of successful radio broadcast experience, including the recognition as one of the industry's pioneers in digital audio storage evolution.
All business and financial activities of Macromedia will be transferred to Gentner's headquarters in Salt Lake City. Product development and customer support operations will remain in Northfield, Minn., for the foreseeable future.