Level 3 snaps up video vendor

Level 3 Communications Inc. announced it acquired Servecast Ltd., which provides live and on-demand video management and streaming services for broadband and mobile platforms.
Level 3 paid about $45 million in cash for the company.
“Servecast’s video and rights-management platform, combined with its streaming services, complement Level 3’s existing portfolio of content delivery capabilities,” said Brady Rafuse, president of Level 3’s Content Markets Group and European Markets Group. “The addition of these services accelerates our planned development of this technology.”
Level 3 said it plans to keep Servecast’s headquarters and broadcast operations center in Dublin along with data centers in London and Amsterdam.