IPTV company Kasenna sells at a huge loss for investors
Kasenna, which does IP video infrastructure and applications (aka IPTV) is selling for just $6.1 million, according to VentureWire. The purchasing company is another IPTV player, Espial, in what will be an all-stock deal.
This sale is a huge loss for its investors as Kasenna has more than $70 million in funding pumped into it by firms including Intel Capital, U.S. Venture Partners, SGI and Sun Microsystems.
The Sunnyvale, Calif.-based Kasenna was founded in 2000.
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About the Author, MG Siegler
MG Siegler writes about technology trends and new media for VentureBeat, with a focus on mobile topics, social elements and key news stories. Before that, MG wrote about technology on his blog, ParisLemon. Originally from Ohio, MG attended the University of Michigan where he studied film. He's previously lived in Los Angeles where he worked in Hollywood and in San Diego where he did web development. He now lives in San Francisco.