Cisco to buy video content management firm
No price disclosed for acquisition of ExtendMediaNEW YORK - Communications technology giant Network Cisco Systems said Thursday it has agreed to acquire ExtendMedia, a privately-held company that makes software that manages video content for pay media and advertising-supported models.
The companies didn't disclose financial details of the planned transaction. ExtendMedia is based in Newton, Mass. Its technology will help Cisco deliver and monetize video via multiple screens.
"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 vp and general manager at Cisco's service provider video technology group. "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."