Cisco announced yesterday they intend to acquire Newton, MA based video company ExtendMedia. Cisco describes the company as “a leading provider of software-based Content Management Systems (CMS) that manage the entire lifecycle of video content through monetization for pay media and ad-supported business models.”
“As the video market transitions and consumers expect multi-screen engagement, service providers are enhancing their infrastructure to manage and deliver video to any device while providing a rich user experience,” said Enrique Rodriguez, senior vice president and general manager, Cisco’s Service Provider Video Technology Group.
Although the video company is based in Newton, Massachusetts the Cisco press release indicates the majority of the employees are in Toronto, Canada as part of the ExtendMedia Production group.
Financial terms of the transaction were not disclosed. The acquisition is subject to various standard closing conditions and is expected to be complete in the first half of Cisco’s fiscal year 2011. Upon the close of the acquisition, the majority of the ExtendMedia team will be integrated into Cisco’s Service Provider Video Technology Group.
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Rewatchable is a Massachusetts video production company.
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