CES 2011: EchoStar Acquires Move Networks
EchoStar has acquired assets of streaming media outfit Move Networks and all its assets in an effort to expand its footprint in the broadband video realm. Move Networks, which announced that it was looking to be acquired several months ago, has developed a variety of solutions for large scale streaming of video on the Internet, including major advances in adaptive streaming. Financial terms of the deal were not disclosed.
“We’re pleased to bring aboard the talents and proficiencies in adaptive streaming and IPTV from Move Networks which will enable us to expand our portfolio of advanced television technologies serving cable, satellite, telcos and IPTV video providers,” says Mike Dugan, president and CEO of EchoStar Corp.
“We’re excited to join forces with EchoStar,” says Drew Major, the inventor of adaptive streaming and founder of Move Networks. “We first introduced our products in 2006 and quickly proved that adaptive streaming was the breakthrough invention that proved primetime television programming and professional long form video can be reliably delivered over the Internet at the high resolution quality that is intended. We look forward to the joint efforts of Move and EchoStar engineers in furthering technology innovation in online video delivery worldwide.”