Mediabolic to Acquire Digital 5
Apr 21, 2006 5:29 PM
Mediabolic Strengthens its Reach to Manufacturers of Digital Home Products Worldwide
Mediabolic, a leading developer of entertainment networking software, today announced that it has signed an agreement to acquire the assets of Digital 5, Inc., a provider of software for streaming multimedia content, headquartered in Lawrenceville, N.J. The acquisition further expands Mediabolic’s ability to deliver the most comprehensive software to its global original equipment manufacturer (OEM) and original design manufacturer (ODM) customers.
“Mediabolic has made noteworthy year-over-year growth and was profitable in 2005,” says Daniel Putterman, president and CEO of Mediabolic. “This acquisition demonstrates our ongoing commitment to expanding our offering of multimedia technologies to next-generation connected entertainment devices.”
Mediabolic’s standards-based media player and media server software enables PCs and other connected entertainment devices to interoperate with one another, so consumers can access all of their music, photos, videos, and premium content anywhere in the home, at any time. The company’s software powers products delivered by many major PC and
consumer electronics brands in the industry.
“This acquisition takes the digital home to the next level,” says Gary Hughes, chairman and CEO at Digital 5. “Mediabolic is the perfect home for Digital 5’s technologies.”
Digital 5’s intellectual property will be folded into the Mediabolic brand. Financial terms of the agreement were not disclosed.