Motorola announced yesterday that it will buy privately held BitBand, an Israel-based video-on-demand technology provider, to expand its home video business.
According to Thomson Reuters, Motorola says it will integrate BitBand into its Home and Networks Mobility unity, for which the company has reportedly been looking for a buyer willing to pay $4 billion to $5 billion.
Motorola, which is reportedly losing money on its mobile phones business, did not disclose the terms of the BitBand deal. It expects to close the transaction in the current quarter.
BitBand, incorporated in the US with headquarters and R&D in Israel, provides Internet-based television technology to 60 operators in countries such as Holland, Italy and Russia.