Siemens Buys Myrio4/08/2005 4:45 AM Eastern
Siemens Communications Inc. is buying Internet-protocol-TV-software provider Myrio Corp., which will operate as a wholly owned subsidiary of Siemens. Terms were not announced.
Myrio said it will continue to sell its “IP Video Platform” directly and through partnerships, but the platform will also be bundled with Siemens' “Surpass Home Entertainment” platform.
"The acquisition will enhance Myrio's current relationships with our 65-plus customers and partners by providing them with the expertise and leadership that Siemens exhibits," said Myrio CEO Chris Coles, who will stay on in that role.
Myrio's IPTV platform has been rolled out by Western Illinois Telephone, Champaign Telephone Co., The Valley Telecom Group and New Smyrna Beach (Fla.) Utilities.