Microsoft Corporation Invests In Move Networks, Inc.
Microsoft Corporation (NASDAQ:MSFT) has invested in Move Networks, Inc. to help support the company’s initiative to develop video technology using Microsoft Silverlight. The official announcement should be released soon on Microsoft PressPass.
Although it is not known how much was invested by Microsoft, a source claims that it was an add-on investment on a $46 million Series C that closed last summer. Other investors that participated in Move’s Series C includes Comcast, Cisco Systems, Benchmark Capital, Hummer Winblad Venture Partners, and Steamboat Ventures. Move is now valuated at around $150 million.