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Digital Cinema Firm DG2L Acquires Video Delivery Technology Firm iVast

Authored by Mark Hefflinger on March 17, 2004 - 5:08am.
New York -- DG2L, developer of an MPEG-4 based digital cinema system, announced on Wednesday that it has acquired iVast, a provider of video encoding, decoding, streaming, video-on-demand, mobile and satellite delivery services. Financial terms of the transaction were not disclosed. Newark, Calif.-based iVast offers its services for video standards including MPEG-1, MPEG2, H.264, HD and Windows Media 9. "DG2L is a leader in developing digital media distribution, delivery and playback solutions, said DG2L CEO Ankur Sheth. "The acquisition of iVast allows us to penetrate the market rapidly on a worldwide scale, taking advantage of iVast International's extensive channel and customer base."
tags: Video | Digital Cinema | DG2L | Delivery Technology | iVast |

MPEG-4 Video Developer IVast Shuts Down, Lays Off 34 Employees

Authored by Mark Hefflinger on February 23, 2004 - 8:05am.
San Francisco -- IVast, a Santa Clara, Calif.-based provider of MPEG-4 based digital media delivery hardware and software, has ceased operations and will see its assets sold to Singapore-based DG2L, CNET News.com reported. Around 35 iVast employees were laid off, with 22 remaining in the international unit that is expected to be part of an asset sale to DG2L, provider of an MPEG-4 based high-definition digital cinema video system. "The North America market was not there to sustain," former iVast employee Ben Silva told News.com. Silva added that the company struggled because U.S. companies were reluctant to adopt nascent MPEG-4 technologies, while 85-95% of the company's revenue came from the Asia-Pacific region.
tags: Video | Shuts Down | MPEG-4 | Lays Off | Employees | iVast |