Content delivery network BitGravity has been acquired by Tata Communications, more than two years after the two began a strategic alliance that included licensing BitGravity's CDN technology and the federation of BitGravity's and Tata Communications' delivery networks. At the time, Tata also invested some $11.5 million in BitGravity. The deal allowed Tata to enter the market with its own global CDN in 2008 and has resulted in successful traction with media, content and gaming companies in Europe, Asia and India.
"Tata Communications bet on BitGravity's vision and people to provide innovative video services. We are ecstatic that this will be a positive outcome for all the stakeholders; we are equally excited about what this means for BitGravity and its products going forward," said Perry Wu, CEO and co-founder of BitGravity.
BitGravity, which was launched in 2006 and is based in Burlingame, California, will continue to operate as a wholly owned subsidiary of The Netherlands-based Tata.
No details of the sale were released.
For more:
- see this release
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