Tuesday, September 25, 2007

Sling Media Acquired By EchoStar For $380M

Foster City-based Sling Media has been acquired by EchoStar, in a deal worth approximately $380M, EchoStar announced late Monday evening. EchoStar said that it has agreed to acquire Sling Media, a maker of digital video place shifting devices, for a combination of cash and EchoStar options. EchoStar said that it expects the deal to close in the fourth quarter of 2007. Sling Media is venture backed by Allen & Co., DCM-Doll Capital Management, EchoStar Communications Corporation, Goldman Sachs, Hearst Corp., Liberty Media and Mobius Venture Capital, and has raised $57.1M in venture funding.