Digital Fountain, a company specializing in sending media over wireless networks — especially streaming video — just sold to San Deigo goliath Qualcomm. It’s unclear whether the flagging economy played a role, but the Fremont, Calif. company may have been running short on funds. It had raised a total of $45 million over several rounds of funding since its inception in 1999, most recently pulling in $5 million in a fifth pass in 2004. Past VentureBeat posts have noted its competition with digital streaming names Swarmcast and 2080 Media.
Digital Fountain’s large flock of investors included Adobe Ventures, Cisco Systems, JPMorgan Partners, Sony, Texas Instrments, Granite Ventures, Matrix Partners, BT Group, Honda Motor Company, Sumitomo Electric Industries, NRI and Spinnaker Ventures.
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