CMC Does a Deal
Earlier today, the Denver-based Comcast Media Center (CMC) has acquired "substantially all of the assets" of Santa Clara, Calif.-based Radiance Technologies Inc. for the tidy sum of $5 million. (See CMC Buys Radiance.)
The deal combines a massive content delivery house (CMC) with a much smaller company that specializes in delivery systems tailored for moving and managing large digital "assets" such as video files.
Thomas Engdahl, Radiance's president and CEO -- and the former chief of OSS specialist Alopa Networks, which is now part of Arris Group Inc. (Nasdaq: ARRS) -- will join Comcast Media Center as SVP and GM of a wholly owned business of CMC that will retain the Radiance name. Radiance's product development department, meanwhile, has been fused with CMC's Engineering and Integrated Technology unit.
Radiance will continue to provide sales and customer support for TrueDelivery, its flagship managed asset delivery system, targeting it to the advertising and enterprise sectors. Radiance was founded in 2000.
CMC SVP and COO Gary Traver noted that Radiance will complement CMC's own digital asset management services and enable it to likewise reach into new markets. Today, Radiance's technology schedules and executes data transfers for companies that span the aerospace, automotive, advertising, and media industries.
Among its services, CMC handles and distributes more than 280 high-def and standard-def video and audio services for cable operator affiliates, and operates a national video-on-demand service that delivers more than 8,000 titles (HD and SD) per month. It also runs a Web-based portal that downloads digital content onto ad servers located at cable system headends.
— Jeff Baumgartner, Site Editor, Cable Digital News