after the California Department of Corporations approved it in a fairness hearing. The meeting technology provider will operate with the StarCite brand, migrate its 400 customers to OnVantage's technology by year-end and recognize savings of $3 million, StarCite president and CEO Mike Boult told investors of majority owner Internet Capital Group. With
the merger, ICG reduced its stake in StarCite to 26 percent from 61 percent. Other owners with board seats include TL Ventures, Texas Pacific Group Venture, Norwest Venture Partners and iD Ventures America.