Washington - YFonGlobal, the developer of a platform that allows clients to launch social networking platforms, said on Wednesday that it has signed a deal to be acquired by Splinternet Holdings, a Connecticut-based developer of Internet telephony products and services.

Financial terms of the deal were not disclosed.

Washington-based YFonGlobal's core product, called windstorm, allows companies to launch hosted and customized social networks.

Splinternet said that it will retain "key management team members" of YFonGlobal once the deal closes, expected to be within 60 days.

The acquisition comes two months after YFonGlobal agreed to a reverse merger with Connecticut-based Internet telephone firm PacketPort.com in a deal that would have given the company a listing on the Over-The-Counter (OTC) Bulletin Board.

Related Links:
http://biz.yahoo.com/bw/070815/20070815005325.html?.v=1   http://www.yfonglobal.com

http://www.splinter.net

http://www.wyndstorm.com