More actual news tied to CES… Satellite service EchoStar (NSDQ: SATS) has acquired streaming video company Move Networks, as it looks to join forces with one of the companies that are among many these days that are associated with pay TV cord-cutting. The over-the-top startup put itself up for sale this past summer. At the time, the company tweeted that it was looking for $150 million, though it’s not clear whether EchoStar met that target or got Move to lower its sights, as the financial terms were undisclosed.
In addition to buying into the hot video technology of the moment — one that has been perceived as nascent threat to existing pay TV models — EchoStar will also be able to avail itself of Move’s reach beyond the U.S. to content companies in Germany, Latin America, and the Middle East. But most importantly, the deal will give EchoStar an established and growing system with which to offer subscribers video streams as it attempts to head off its cable and satellite rivals from getting a greater toehold in the space.
Still, it’s not clear if EchoStar was buying the brand or the just the technology. From the way Move was operating when the sale began, it looked it like it was paring down to just the bare essentials after having laid off a majority of its workforce. Release