Kasenna, which does IP video infrastructure and applications (aka IPTV) is selling for just $6.1 million, according to VentureWire. The purchasing company is another IPTV player, Espial, in what will be an all-stock deal.
This sale is a huge loss for its investors as Kasenna has more than $70 million in funding pumped into it by firms including Intel Capital, U.S. Venture Partners, SGI and Sun Microsystems.
The Sunnyvale, Calif.-based Kasenna was founded in 2000.
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Vid-Biz: Women, Comcast, IPTV « NewTeeVee said:
[...] IPTV Companies Alice, Kassena Bought; France’s Iliad, owners of Europe’s biggest IPTV provider, Free, to buy rival Alice from Italia Telecom for $1.6 billion. Elsewhere, Espial is buying Kassena for just $6.1 million (all stock), a huge loss since Kassena had raised $70 million in funding. (Iliad: Variety); Kassena: VentureBeat) [...]