RealTime IT News

Sun Microsystems Invests in PacketVideo's Series E

PacketVideo today announced receipt of an undisclosed investment from Sun Microsystems and Motorola as part of its Series E round. The round's total is expected to be between $80 million to $100 million and will be formally announced in March, said a company official.

Today's preliminary announcement comes on the heels of PacketVideo's release of its streaming media server software PVServer to be deployed on Sun Microsystems' Netra family of servers. The PVPlatform is an MPEG-4-compliant system for the delivery of video and audio over current wireless networks to mobile devices.

The company's prior investors include Credit Suisse First Boston, Intel, Nexus Group, Qualcomm, Reuters, Royal Philips Electronics, Siemens Mustang Ventures, the Rockefeller family, Sonera Venture Capital, Sony, Texas Instruments, and Time Warner.

PacketVideo is based in San Diego.