Continuing on its year-long shopping spree, C-Cor Inc. announced a deal today to buy nCube Corp. for $89.5 million in cash, stock and convertible notes. C-Cor said it swung the deal primarily to enter the emerging video-on-demand (VOD) software business, not the VOD server market. In fact, plans call for folding nCube into C-Cor's software business unit.
As part of its shopping binge, C-Cor bought bandwidth management specialist Stargus Inc. for $17 million and operational support systems (OSS) provider Alopa Networks for $15 million earlier this year. In its latest earnings report released earlier today, C-Cor said net sales for its first fiscal quarter rose to $62.1 million from $56.8 million in the year-ago period. nCube, which operates in 100 markets and serves 3.5 million digital cable subscribers with 300,000 video streams, offers VOD servers, software and advertising support.