Aug 26, 2010 (10:08 AM EDT)
Cisco To Acquire ExtendMedia
Read the Original Article at InformationWeek
In a move designed to expand its video content capability, Cisco announced Thursday that it plans to acquire ExtendMedia, which provides software that manages the entire lifecycle of video content through monetization for pay media and ad-supported business models.
ExtendMedia, headquartered in suburban Boston with most of its staff located in Toronto, Canada, is privately held and financial terms of the deal were not revealed.
Cisco said the acquisition of ExtendMedia will help it deliver multi-screen offerings to customers as the market continues its transition to IP video.
"Service providers are enhancing their infrastructure to manage and deliver video to any device," said Cisco's Enrique Rodriguez in a statement. "ExtendMedia will strengthen Cisco's position in the delivery of IP video services by enabling service providers to provide a more interactive and personal experience." Rodiquez is senior vice president and general manager of Cisco's Service Provider Video Technology Group.
Cisco said ExtendMedia's CMS software will be integrated with Cisco's current IP offerings while ExtendMedia's multi-screen video over IP networks will become a core component of Cisco's next-generation video architecture. After the acquisition is completed -- expected to be accomplished in the first half of Cisco's 2011 fiscal year -- most of the ExtendMedia team will be integrated into Cisco'sService Provider Video Technology Group while its Sales and Professional Services teams will become part of Cisco's Sales and Advanced Services organizations.
ExtendVideo has advanced multi-screen video technology that will be added to Cisco's existing IP video services.
In recent years, Cisco has been moving aggressively beyond its traditional legacy of routers and switches to address a wider array of markets. ExtendMedia recently teamed up with Thales to deliver multiscreen content to PCs, televisions and mobile devices utilized by airline passengers.
ExtendMedia has been funded by Atlas Venture, Venrock Associates, and TVM Capital.