Cisco announced today that it intends to acquire ExtendMedia, a content management systems provider out of Newton, Massachusetts.
ExtendMedia's systems manage video content through monetization for pay media and ad-supported business models. Cisco says that with ExtendMedia, it will be able to help service providers deliver multi-screen offerings as the market transitions to IP video.
"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 of Cisco's Service Provider Video Technology Group. "ExtendMedia will strengthen Cisco's position in the delivery of IP video services by enabling service providers to provide a more interactive and personal experience and to optimize quality for consumer viewing devices."
Though ExtendMedia is based in Massachusetts, the majority of its employee base is in Toronto. The majority of the team will be integrated into Cisco's Service Provider Video Technology Group.
Financial terms of the acquisition have not been disclosed. It is expected to be complete in the first half of Cisco's fiscal year 2011.