Print
Email
Print Edition Stories
UMass President Jack Wilson on Entrepreneurship
IBM aims to make wireless sensors easy to code
Newton-based ExtendMedia Corp., a digital video delivery company, is being acquired by San Jose-based Cisco Systems Inc. The network giant (Nasdaq: CSCO) announced in a press release today its intent to buy the privately held company.
ExtendMedia will add its multi-screen video delivery over IP networks to Cisco’s current IP video services.
The buyout is expected to result in the majority of the ExtendMedia staff joining Cisco’s Service Provider Video Technology Group, with the ExtendMedia sales and professional services team joining the Cisco Sales and Advanced Services organizations.
No financial terms of the deal were disclosed.
ExtendMedia had changed its leadership in March 2009 when it appointed former Lightningcast Inc. CEO Tom MacIsaac as CEO, filling in a vacancy left by former CEO Jim Geary. The company itself brought in a $10 million Series C funding round at the end of 2008 from previous investors Atlas Venture and Venrock Associates, as well as Boston-based TVM Capital.
Comments
If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.
RSS Feeds
