NDS Group, a subsidiary of News Corp (NYSE: NWS). that supplies DRM and other content technology to digital pay TV and mobile providers, has bought Israel-based video content delivery network CastUp, for about $11.3 million in cash plus additional payments to employees and senior management. Its customers include TV and media companies in Israel as well as the Israeli subsidiaries of HP, Amdocs, MTV and Blockbuster (NYSE: BBI). “This acquisition affords NDS access to technologies which will help its current pay TV customers expand their broadband video distribution services as well as attracting new potential customers. CastUp’s proven rich media technology will also help NDS to develop new enhanced services and applications for broadband enabled set-top boxes (hybrid STBs),” the company said. More in release.
Update: Some more on CastUp from the NDS earning call transcript via (SeekingAlpha): CEO Dr. Abe Peled said the acquisition is “simply in indication of our focus on delivery of television over Internet and the opportunities that are opening up for NDS in this area.”