Savos Acquired by Wireless ASP GiantBear
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White Plains, New York-based GiantBear said it plans to add the streaming audio technology built by Alley-based Savos to its AudioCub product. The product would allow mobile phone users to access streaming links on the Internet, including sporting events, financial analyst calls, radio stations, and other live Web events.
AudioCub enables wireless carriers' subscribers to request and receive information from the wireless Internet through audio delivery, using any existing analog, digital or WAP-enabled device.
As part of the deal, Savos president Nate Brochin would land the post of vice president of audio technologies at GiantBear.
Savos, which has moved away from the consumer market to concentrate on its business-to-business operations, has built software that allows providers of streaming news, weather, sports and music to stream to cell phones. Users dial a local number and select their content channels.
"GiantBear's agreement to acquire Savos is an important step for us as we increase the functionality of our audio delivery technology," said GiantBear CEO James Green.
"Since reading text on a phone screen can be difficult or even dangerous, especially when walking or driving, the value of listening to wireless Web information on a mobile phone makes perfect sense. GiantBear focuses on the phone's most basic function: delivering audio," he added.
Last December, GiantBear closed a $25 million second round of funding, led by First Union Capital Partners. First round investors Thomas H. Lee Partners and Blackstone Capital Partners contributed.
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