Qualcomm Absorbs Digital Fountain’s Streaming Media Technologies
Qualcomm, with its abiding interest in streaming video technologies, has acquired key assets of Digital Fountain, a Freemont, CA, startup that has developed software to optimize digital media transmitted over any network.
Qualcomm made no announcement about its purchase, which was reported by PE Hub and several blogs. The San Diego wireless technology giant did not immediately respond to a request for comment. For its part, Digital Fountain posted a brief message on its web site that confirmed the acquisition but provides no details about the deal.
The Business of Video blog at streamingmedia.com, which apparently broke the story last week, says Qualcomm acquired a team of seven engineers led by Mike Luby, Digital Fountain’s founder and CTO. The article said that they will work at Qualcomm’s campus in Santa Clara, CA., and continue to support Digital Fountain’s customers, which include Cisco Systems, Sumitomo Electric Networks, Scientific Atlanta, Northrop Grumman, Sirius Satellite Radio, XM Radio, Sony, Nokia, and Adobe.
Digital Fountain says its software eliminates limitations to streaming digital media over public or private networks, enabling the media stream to flow faster and more efficiently. Mobile carriers, IPTV providers, and defense agencies throughout the world use the technology.
The startup, founded in 1998, has reportedly raised $60 million in funding. Digital Fountain identifies 12 venture capital firms and high-tech companies as its investors, including Waltham, MA-based Matrix Partners, San Francisco, CA-based Granite Ventures, Sumitomo Electric Industries, Adobe Systems, Honda, and BT.