Wednesday, June 23, 2010

RipCode Acquired By RGB Networks

Austin-based RipCode, a developer of hardware appliances used for video transcoding, has been acquired by RGB Networks. RGB Networks announced the deal this morning, but did not disclose financial terms of the deal. RGB said it will incorporate RipCode's technology into its own product line. RGB, which is based in Sunnyvale, California, said that "nearly all" of RipCode's employees are being retained, including its engineering team, and that it will continue to operate out of RipCode's existing offices in Austin. RipCode was venture backed by Granite Ventures, Hunt Ventures, El Dorado Ventures, Vesbrige Partners, and ATA Ventures, and had raised over $30M in funding.