NEWS
Microsoft has invested in internet TV company Move Networks for an undisclosed sum, in a move to broaden the reach of its video streaming technology.
The investment comes roughly five months after the two companies struck a strategic partnership. In March, Microsoft said it would begin supporting Move Network's video streaming technology within its own cross-browser video platform, Silverlight, which lets publishers customise navigation and ads. As part of the deal, Move Networks said it will support Windows Server-based encoding, Microsoft video-compression technology (codecs), and Silverlight's digital rights management.
The deal also signals continued momentum for Move Networks, a supplier of high-definition video-delivery technology to publishers including ABC, Discovery, ESPN, and Fox. In April, the American Fork raised $46m from a stellar line-up of investors, including Benchmark Capital, Cisco Systems, Comcast Interactive Media, Hummer Winblad Venture Partners and Steamboat Ventures. Microsoft said it has joined that Series C round of financing several months later. In all, the company has raised more than $67m since it was founded in 2006.
The two companies are showing off their teamwork during the Democratic National Convention in the US this week, under a deal with the DNC. The DNC is broadcasting live coverage of the event via its website with Microsoft and Move technology.
Combined, the two technologies let publishers deliver "skip-free" TV programming online with customisable navigation, according to the companies.
Move Networks CEO John Edwards said Microsoft helps it boost the advertising appeal of its technology with Silverlight. Edwards said in a statement: "Our close relationship with Microsoft demonstrates their confidence in our ability to unlock the tremendous potential of internet television for audiences, media owners, advertisers, and service providers."
