ClearOne Communications Inc. said Friday it has sold its Canadian subsidiary to an undisclosed private investment group.

The Salt Lake-based company said it sold all of the issued and outstanding stock of ClearOne Communications of Canada Inc. for $1.5 million, plus an earn-out amount ranging from 3 percent to 4 percent of the subsidiary's gross revenues over a five-year period. An initial $200,000 already has been paid, with the balance to be paid over a 15-month period.

The Canadian subsidiary provided audiovisual integration services in eastern Canada under the name OM Video.

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ClearOne develops and sells audio conferencing systems and other related products for audio-, video- and Web-conferencing applications.

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