May 23, 2008
Southborough Co. Readies TVs For Digital
By Eileen Kennedy
UpdateLogic Inc. of Southborough has raised an undisclosed amount in venture capital funds from Core Capital Partners of Washington, D.C.
The company, which makes a system that automatically distributes software updates and other date-to-digital devices, will use the money to further develop its technology and pursue additional markets and customers.
UpdateLogic has also announced an expanded relationship with Virginia-based National Datacast Inc., a subsidiary of the Public Broadcasting Service. National Data will take a significant equity interest in UpdateLogic. National Data provides nationwide wireless data broadcasting.
UpdateLogic's product, UpdateTV, uses National Datacast's network to deliver and install software updates for digital television and other services. The existing collaborative agreement was changed from five years to eight years.
The two companies will also worth together on developing and enhancing datacasting technology for digital television devices for an additional three years.
The company, which makes a system that automatically distributes software updates and other date-to-digital devices, will use the money to further develop its technology and pursue additional markets and customers.
UpdateLogic has also announced an expanded relationship with Virginia-based National Datacast Inc., a subsidiary of the Public Broadcasting Service. National Data will take a significant equity interest in UpdateLogic. National Data provides nationwide wireless data broadcasting.
UpdateLogic's product, UpdateTV, uses National Datacast's network to deliver and install software updates for digital television and other services. The existing collaborative agreement was changed from five years to eight years.
The two companies will also worth together on developing and enhancing datacasting technology for digital television devices for an additional three years.
WBJ Web Partners
Most Recent
Most Recent
0 Comments