Digital video compression firm Tandberg Television is acquiring IP video delivery firm SkyStream Networks for about $80 million. SkyStream, based in Sunnyvale, CA, is privately-held and employs about 100.
Founded in July 1996, SkyStream has delivered 7 years of sequential revenue growth and achieved profitability in Q4 2005. The company posted 2005 revenues of $30.7 million, up 43% on 2004, and with a gross margin of 65%.
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