VOD Firm Concurrent Acquires Everstream for $15 Million

Authored by Mark Hefflinger on August 19, 2005 - 8:11am.

Atlanta -- Concurrent, a provider of broadband video-on-demand delivery equipment, announced on Friday that it has acquired Cleveland-based Everstream, a provider of on-demand and interactive TV monitoring technologies for cable TV providers, for $15 million in Concurrent stock. Everstream will operate as a subsidiary of Concurrent, and its technology will be marketed to the finance, homeland security and gaming industries. Atlanta-based Concurrent had been an investor in Everstream since 2002; the companies expect the deal to close in early October. "When considering the synergies between our technologies and the motivations driving this union, you begin to recognize how committed our two companies are to achieving the same goal: providing broadband subscribers with the best entertainment viewing experience possible," said Everstream CEO Stephen McHale.
http://biz.yahoo.com/bw/050819/195095.html?.v=1
http://www.everstream.com
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