WiMax mobile chipset maker Runcom Technologies has acquired Bamboo Media Casting, a mobile video platform provider, in an options swap deal. Financial terms of the agreement were not revealed.
Israel-based Runcom jumped on Bamboo after ChinaTel Group, a China-based WiMax and mesh Wi-Fi network, decided not to buy the company, reports Venturebeat.com. The chipmaker, adds VB, has a deal in place with ChinaTel to provide it with WiMax equipment and to invest up to $100 million in the company.
The chipset maker has been on a bit of a buying spree. In late December, Runcom acquired a majority stake in IXI Mobile, makers of the Ogo handheld messaging device.
Bamboo brings $10.5 million in funding from Aurum-SBC Investments, Link Investment Fund, Partner Communications, Veritas Venture Partners, Mobile Internet Capital, Alice Ventures and Apropos IT Ventures. In September, Runcom raised $10 million from London-based VC