Cisco Announces Intent to Acquire ExtendMedia
Today, we are pleased to welcome ExtendMedia to the Cisco family. ExtendMedia, a leading provider of software-based Content Management Systems (CMS) that manage the entire lifecycle of video content through monetization for pay media and ad-supported business models. ExtendMedia is privately-held and based in Newton, Mass., with the majority of its employee base in Toronto, Canada. ExtendMedia will enable Cisco to help service providers deliver multi-screen offerings as the market transitions to IP video.
In English: video, video, video and more video on any screen, on any network, on any device.
Financial terms of the transaction are undisclosed. 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.