Cable transmission and Internet
networking giant Cisco announced that it intends to acquire privately-held
ExtendMedia, a provider of software-based Content Management Systems (CMS) for
Web video publishing that competes with companies such as Brightcove and
Comcast subsidiary thePlatform.
Cisco said the deal will allow it to
help service providers deliver multi-screen offerings as the market transitions
to IP video, and that Extend's CMS software will integrate with Cisco's current
IP video offerings and be a core component of Cisco's next-generation video
architecture.
Financial terms of Cisco's deal for
Newton, Mass.-based Extend, which has the majority of its employees based in
Toronto, were not disclosed. Cisco said the acquisition is subject to various
standard closing conditions and is expected to be complete in the first half of
Cisco's fiscal year 2011.
Upon the close of the acquisition, the
majority of the ExtendMedia team will be integrated into Cisco's Service
Provider Video Technology Group, and the company's sales and professional
services teams will integrate into the Cisco Sales and Advanced Services
organizations.
"As the video market transitions
and consumers expect multi-screen engagement, service providers are enhancing
their infrastructure to manage and deliver video to any device while providing
a rich user experience," said Enrique Rodriguez, senior vice president and
general manager, Cisco's Service Provider Video Technology Group, 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 and to optimize quality for consumer
viewing devices."
