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December 21, 2006

Motorola buys IPTV technology specialist Tut for $39m

Lake Oswego, Oregon-based Tut said 160 service providers deliver IPTV powered by its digital video distribution technology. However, with the technology in its infancy, Tut has a poor record financial and in its third quarter to September 30, it lost $1.3m, down from $5.6m on revenue that fell 18.1% to $8.2m.

By CBR Staff Writer

Motorola’s $1.15 a share offer is a far cry from the day when Tut held an IPO in 1999 and excitement at the prospects for TV over broadband saw its shares soar by 210% to $60.50 and the first day’s trading. At its peak of $76 shortly after, Tut was worth $880m.

Now Tut’s technology will be folded into Motorola’s digital video delivery systems, which are designed to help service providers deploy video services over IP, ATM, or RF-based network architectures. Motorola said it has deployed 2,060 digital video networks and over 50 million digital video set-top boxes.

In 2005, Tut had to abandon the $24.1m purchase of CoSine Communications Inc after a collapse in its share price. The Motorola deal will raise hopes of a new deal for Cosine, which languishes on the over-the-counter market with a value of $32.8m.

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