Tuesday, August 26, 2008

Move Networks Gets Investment From Microsoft

American Fork, Utah-based Move Networks, a provider of technology for streaming HD video, announced this morning that the firm has added Microsoft as an investor in the firm's Series C funding round. According to Move Networks, the strategic investment comes as aprt of an agreement with Microsoft to support Microsoft Silverlight, Microsoft's cross-browser plug-in for streaming rich media across the web. Financial terms of the deal were not disclosed. Move Networks said that the two companies are collaborating on the video streaming of the Democratic National Convention. Move Networks is venture backed by Benchmark Capital, Cisco Corp., Comcast Interactive Capital, Steamboat Ventures, and Hummer Winblad Venture Partners. More information »