Englewood, Colo. – EchoStar (NASD: SATS), the satellite TV company
affiliated with DISH Network, announced on Thursday that it has acquired Move
Networks, a provider of large-scale streaming video services.
Financial terms
of the transaction were not disclosed.
"TV providers are increasingly
demanding the highest quality video delivery over normal Internet connections,
and Move Network’s patent portfolio and proven customer experience allow us to
give clients the core technology necessary to stream live and video-on-demand
content," said Roger Lynch, executive vice president of EchoStar Advanced
Technologies.
Utah-based Move Networks has raised around $91 million in
financing to date, from backers including Microsoft, Cisco, Hummer Winblad,
Steamboat Ventures, Comcast Interactive Capital and Benchmark Capital.
The
company serves customers in the U.S., Germany, Latin America and the Middle
East.
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