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Cisco Systems will expand its professional video services with the acquisition of video content-management provider ExtendMedia on Thursday. The move readies the Internet-infastructure giant for the day when online video streams come to a number of screens — and providers of those streams gird for battle, hopefully with Cisco equipment and services.
The Newton, Mass.-based company’s flagship OpenCase suite is designed to help manage, publish, and monetize video across multiple platforms including computers, mobile devices and televisions. It should help Cisco monetize its video-over-IP offerings and expand those services’ multiple-screen streaming efforts.
The acquisition will be complete around the first half of Cisco’s 2011 fiscal year, which ends in July of next calendar year. The financial details of the deal were not disclosed. Most ExtendMedia employees will be integrated into Cisco’s Service Provider Video Technology Group or Sales and Advanced Services organizations.
ExtendMedia was founded in 1991 by current president Keith Kocho. Tom MacIsaac, the former CEO of video-over-IP infrastructure provider Lightningcast, is now CEO.
ExtendMedia had raised $33 million in venture capital funding from firms like Atlas Venture, TVM Capital and Venrock.