CES: EchoStar Acquires Move Networks Assets Investors in Streaming-Video Startup Included Cisco, Comcast
By Todd Spangler Multichannel News 1/6/2011 7:02:56 PM http://www.multichannel.com/article/462055-CES_EchoStar_Acquires_Move_Networks_Assets.php Las Vegas — EchoStar Advanced Technologies has acquired assets of Utah-based Move Networks, a streaming-video startup whose investors included Cisco Systems and Comcast. Financial terms of the deal were not disclosed. About 25 employees of Move Networks will be joining EchoStar. They will remain based in American Fork, Utah. Move Networks had raised about $70 million from investors including Steamboat Ventures, Hummer Winblad Venture Partners, Benchmark Capital, Microsoft, Cisco Systems, Comcast and Televisa. Move Networks rose to prominence with an adaptive-rate streaming Internet video player that had been used by ABC.com, Fox, The CW and other media sites. In addition, Comcast has used the Move video player to deliver the Xfinity TV authenticated video service. However, Adobe Systems' Flash and Microsoft's Silverlight now incorporate adaptive-rate streaming features, eliminating Move Networks' differentiation for Web video playback and the company this year laid off the majority of its work force. "We're pleased to bring aboard the talents and proficiencies in adaptive streaming and IPTV from Move Networks which will enable us to expand our portfolio of advanced television technologies serving cable, satellite, telcos and IPTV video providers," EchoStar president and CEO Mike Dugan said in a prepared statement. EchoStar plans to integrate the Move Networks core adaptive bit-rate streaming technology into products to enable efficient streaming of live and video-on-demand content, according to the company. "We're excited to join forces with EchoStar, a pioneer in the field of advanced television technologies," Move Networks founder Drew Major said in a statement. "We look forward to the joint efforts of Move and EchoStar engineers in furthering technology innovation in online video delivery worldwide." EchoStar Advanced Technologies is a wholly owned subsidiary of EchoStar that provides equipment sales, digital broadcast operations, and satellite services, including products from Sling Media. -- ======================================== George Antunes, Political Science Dept University of Houston; Houston, TX 77204 Voice: 713-743-3923 Fax: 713-743-3927 Mail: antunes at uh dot edu _______________________________________________ Medianews mailing list [email protected] http://lists.etskywarn.net/mailman/listinfo/medianews
