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Wowza backer takes a minority stake

Tue, 03/27/2012 - 2:40pm
Brian Santo

Media server specialist Wowza Media Systems has attracted additional funding, with Summit Partners making a minority investment in the company.

Wowza did not provide a value for the investment. It said only that the two founders continue to hold a majority interest in the company, and that Summit has placed Greg Goldfarb, one of its managing directors, on Wowza’s board.

The Wowza server streams video in a number of formats, including Apple iOS and QuickTime, Adobe Flash, Microsoft Silverlight, Google Android and Blackberry, allowing it to reach a variety of tablets, smartphones, IPTV/OTT set-tops and game consoles. The company recently released the third iteration of the server, this one supporting adaptive bit rate (ABR) streaming, support for time-shifting and support for digital rights management.

Wowza said the new investment from Summit helps position it for global growth and opens up opportunities to expand the company's product offering.

Wowza recently announced that it hit the mark of 10,000 licenses for its software-based media server. Customers include service providers, radio and TV broadcasters, media properties, enterprises, educational institutions, OEMs, government agencies, and other organizations, the company said.

Summit Partners has invested in Hyperion Solutions, McAfee Associates, RightNow Technologies, SeaChange International, Unica, Wildfire Interactive and WebEx Communications.

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