Wednesday, March 23, 2011
Accordent Acquired By Polycom
El Segundo-based Accordent Technologies, which develops presentation and webcasting management software for the enterprise, has been acquired by Polycom, Polycom said today. The deal was worth $50M in cash. Polycom said it will use the acquisition to enhance its offerings. Accordent provides products for streaming live webcasts, webcasting meetings and classes, and similar enterprise video streaming applications. Polycom said Accordent had $9M in revenues in 2010, and has over 1,200 customers. Accordent's 50 employees will remain in Southern California. Accordent was venture backed by TVC Ventures (formerly Titan Investment Partners). The firm's CEO and co-founder is Michael C. Newman.