Tata Communications to acquire BitGravity Content Delivery Network (CDN)
Tata Communications today announced that it is in the process of acquiring leading Content Delivery Network (CDN), BitGravity Inc., and has reached a definitive agreement to complete the acquisition. Upon successful completion of the transaction, Tata Communications (Netherlands) B.V. will own 100 percent BitGravity, Inc., which will operate as a wholly-owned subsidiary of Tata Communications.
Company entered into a strategic alliance with BitGravity. The alliance included the licensing BitGravity’s CDN technology and the federation of BitGravity’s and Tata Communications’ delivery networks. The company also made a strategic investment of $11.5mn in BitGravity. The alliance enabled Tata Communications’ to enter the market with its own global CDN in 2008 and has resulted in successful traction with high profile media, content and gaming companies in Europe, Asia and India such as NDTV, IAH Games, Quick Heal Technologies and Nimbus Communications.
BitGravity’s network and content products ensures express delivery of media assets to end-users enabling scalable, real-time video communications over the Internet.
BitGravity, a privately held company located in Burlingame, California, was founded in mid-2006 and launched its services in 2008. The company’s innovative services made inroads with major media and Internet companies and has received numerous accolades including RedHerring 100, OnHollywood 100, DemoGod, and LightReading’s Service Company of the year. BitGravity initially raised a total of $13.5mn in two rounds of funding from angels and from Tata Communications.
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