WiMax chipmaker Runcom acquires mobile video co. Bamboo
Runcom Technologies, maker of chips used in mobile WiMax base stations, has bought Bamboo Media Casting, provider of a platform for transmitting video over cellular networks. Financial terms of the options swap deal have not been disclosed. This news comes less than a week after Runcom purchased a majority share in IXI Mobile, developer of the Ogo messaging and data transfer device.
Israel-based Runcom pounced on Bamboo after it was narrowly passed over by potential buyer ChinaTel Group, a major Chinese WiMax and mesh Wi-Fi network. Incidentally, Runcom has a deal with ChinaTel to supply WiMax equipment and invest as much as $100 million in the company.
Bamboo brings with it $10.5 million from Aurum-SBC Investments, Link Investment Fund, Partner Communications, Veritas Venture Partners, Mobile Internet Capital, Alice Ventures and Apropos IT Ventures, according to VentureWire.
Runcom itself last raised $20 million. Before that, it brought in $8 million in 2000 from Concord Ventures and Vertex Management.
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About the Author, Camille Ricketts
Camille is the lead writer for GreenBeat. She came to VentureBeat from Google where she worked on its traditional platforms team, particularly in TV. Before that, she was a reporter for the Wall Street Journal in New York and London. Follow her on Twitter at @camillericketts, and follow VentureBeat on Twitter at @venturebeat.
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