RGB Networks, a provider of video processing technology, has issued $20 million of new shares for the acquisition of RipCode, according to a filing with the SEC. RGB Networks announced the acquisition of RipCode, a transcoding vendor, in June.
Based in Sunnyvale, Calif., the company provides cable and telco operators with solutions for delivery of video to multiple devices. RGB works with clients in more than 20 countries.
(An earlier version of this story incorrectly reported that RGB Networks had raised $20 million in equity.)