Lead Generation Firm Buys NetUpdate

Most Home Corp., Vancouver, British Columbia, has signed a nonbinding letter of intent to purchase all or substantially all the operating assets of NetUpdate Inc., a Web-based point-of-sale technology vendor.The parties intend to close on or before Dec. 31. The anticipated total value of the transaction is up to a maximum of $2.7 million, consisting of $500,000 in common stock, a $200,000 promissory note, and earn-out (common) shares of Most Home with a maximum value of $2.0 million. Most Home Real Estate Services Inc. provides an end-to-end electronic marketing solution and technology platform that enables real estate and mortgage firms to increase their online lead conversion rates, the company said. NetUpdate can be found online at http://www.netupdate.com.