Updated: Cisco's Deal for ExtendMedia Said to Be $65 Million

Author:
Publish date:
Updated on

I’ve been updated with what appears to be a more reliable figure for what Cisco is spending to acquire ExtendMedia, a provider of content-management software for video: $65 million, according to an executive with knowledge of the deal (see Cisco Makes ‘TV Everywhere’ Play With Plans To Buy ExtendMedia).

Previously I’d heard that Cisco paid between $30 million and $40 million. ExtendMedia’s investors — TVM Capital, Atlas Venture and Venrock Associates — had invested $33 million, meaning it looks like they got some payback after all.

ExtendMedia’s system provides publishing and management functions for video content on the Web and to mobile devices, to customers including AT&T and Bell Canada.

Cisco and ExtendMedia are not disclosing financial terms of the deal. The majority of ExtendMedia’s 52 employees, who are mostly based in Toronto, are expected to join Cisco after the deal closes (expected before the end of 2010).

Related