Business

Moto agrees to buy BitBand for on-demand delivery

Posted November 15, 2009 10:00 pm

Bloomberg News

Motorola Inc. said it agreed to buy BitBand Technologies Ltd., an Israel-based manager of video content delivered over the Internet, to add to its video on- demand services.

No terms were disclosed. Schaumburg-based Motorola said it expects the acquisition to close this quarter, according to a statement today.

Motorola, the largest U.S. mobile-phone maker, plans to integrate BitBand into its home and networks mobility business, which accounted for about a third of sales last quarter. BitBand will add products tailored to Internet video, helping Motorola expand on-demand offerings to customers, according to the statement.

Motorola fell 1 cent to $8.77 at 10:04 a.m. in New York Stock Exchange composite trading. The shares had almost doubled this year before today.

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