Comcast Media Center Buys Asset-Delivery Firm
CMC Acquires Radiance Technologies For $5 Million
By Todd Spangler -- Multichannel News, 10/7/2008 8:41:00 AM
Comcast Media Center has bought substantially all of the assets of Radiance Technologies, a provider of asset-delivery systems for distributing and managing large digital assets, for about $5 million, the companies said.
Radiance, founded in 2000 and based in Santa Clara, Calif., is now a wholly owned business of the Comcast Media Center. Tom Engdahl, Radiance’s president and CEO, has joined CMC as senior vice president and general manager of the unit.
The Radiance product development department has merged with the CMC’s Engineering and Integrated Technology unit.
Radiance provides digital asset management and delivery for companies in the aerospace, automotive, advertising and media industries.
“With a track record for developing and operating systems that can move large digital assets across broadband architecture, Radiance is a terrific addition to the CMC’s content management distribution capabilities,” Comcast Media Center senior vice president and chief operating officer Gary Traver said, in a statement.
Investors in Radiance included Sutter Hill Ventures, Vanguard Ventures, Levensohn Venture Partners, ChevronTexaco Venture Equities and Net Partners.
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