Comcast Buys Video Delivery Firm Radiance For $5 Million
This story was written by Rafat Ali.
Comcast (NSDQ: CMCSA) Media Center, the video delivery unit of Comcast Cable, has bought out all of the assets of Radiance Technologies, a provider of asset-delivery systems for distributing and managing large digital video files, for about $5 million, reports Multichannel. Radiance, based in Sunnyvale CA and founded in 2000, had investors such as Sutter Hill Ventures, Vanguard Ventures, Levensohn Venture Partners, ChevronTexaco Venture Equities and Net Partners, though this sale seems to be more of a fire sale. The company had raised at least $26 million and possibly more over the years. Tom Engdahl, Radiance's president and CEO, has joined CMC as SVP and GM of the unit.
Radiance's technology helps moves digital video files for the advertising and enterprise sectors. Its product development market has merged with the CMC's engineering and integrated technology unit.
By Rafat Ali