Thursday, July 3, 2008

Kasenna Acquired By Espial

Sunnyvale-based Kasenna has been acquired by Ontario-based Espial Group, Espial said earlier this week. According to Espial, it will acquire Kasenna for 4,722,244 shares of its common stock, worth approximately $6.6M. Kasenna was a developer of IPTV technology. The firm was venture backed by Alloy Ventures, CIR Ventures, Cypress Semiconductor Dresdner Kleinwort Wasserstein, Intel Capital, SGI, Sun Microsystems, The Entrepreneurs Fund and US Venture Partners. The firm last announced a round of venture funding in 2006, when it pulled in $11M in a venture round.