In its attempt of extending the reach of its video streaming technology, Microsoft has obtained some considerable stake in online HD video service provider, Move Networks, for an undisclosed amount.
The move comes out as a result of a strategic partnership between the two companies, in March this year, according to which the software giant would support video streaming technology from Move Networks, with its Silverlight, a cross-browser platform from Microsoft that remarkably helps in customizing the adverts and navigation.
Apart from Microsoft, Move Networks is currently being fuelled by a prominent consortium of investors comprising - Cisco Systems, Comcast, and Benchmark Capital, as the major investors, and it has already received USD46 million from the group.
Citing the growing popularity of the company, Microsoft has also decided to join its Series C round of funding.
Move Networks’ CEO John Edward has stated that the deal with Microsoft serves as a testimony of its capability of tapping the potential of internet TV, for various segments of society.