Motorola acquires Tut Systems
Motorola's got its credit card out and it is not afraid to use it!
Back in January, Motorola bought Kreatel Communications, an IP set-top box and middleware vendor. Last month Motorola bought Netopia, a maker of DSL equipment. Now Motorola acquired Tut Systems in a deal worth $39 million.
Tut, founded in 1989, is in the IPTV market, and it now counts more than 160 IPTV-service providers worldwide as customers. Tut's encoding equipment supports MPEG-2 and MPEG- 4 AVC video compression, as well as other features such as ad insertion and conditioning of video and audio.
Motorola's offer for Tut of $1.15 per share is almost a 20% premium. The companies expect the acquisition to close in the first quarter of 2007. Motorola will maintain Tut's operations in Lake Oswego, oregon; and San Diego and Pleasanton, California.
Posted by admin on December 27th, 2006 :: Filed under IPTV
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