Monday, March 5, 2007

Onstream Media to Acquire Auction Video

Onstream Media Corp., which delivers live and on-demand digital media, agreed to acquire Auction Video and Auction Video Japan. Auction Video is a developer of web based, user-generated content applications that are used in social networks, video classified advertisements, online auctions and other Web 2.0 applications. Financial terms were not disclosed.

One of the key components of the acquisition is the video ingestion and flash transcoder that is already integrated into Onstream Media's Digital Media Services Platform (DMSP) and an integral component of the social network services offered as part of Onstream Media's partnership with Five Across, Inc. (Cisco Systems).

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