AllDigital Holdings, Inc (OTCBB:ADGL) won the auction to acquire substantially all assets of Brevity Ventures Inc. for $0.4 million in cash on September 25, 2014. The deal was approved by Mary F. Walrath of the U.S. Bankruptcy Court for the District of Delaware in Wilmington. The transaction is expected to close by October 31, 2014.

AllDigital Holdings, Inc (OTCBB:ADGL) entered into an asset purchase agreement to acquire substantially all assets of Brevity Ventures Inc on October 17, 2014. The transaction can be terminated if it is not closed by October 31, 2014.

Matthew P. Ward, Thomas M. Horan and Ericka F. Johnson of of Womble Carlyle Sandridge & Rice LLP acted as legal advisors for Brevity Ventures Inc. Hilco IP Services LLC acted as intellectual property disposition agent for Brevity Ventures Inc. Larry A. Cerutti of Troutman Sanders LLP acted as legal advisor for AllDigital Holdings, Inc.