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Streaming content for wireless Web gets $90 mln for R&D
Posted: 13-Mar-2001 [Source: Reuters]

[PacketVideo's software turns analog video into digital video compressing it and then delivering it to handheld devices which contain decoding software.]

San Francisco -- "High-tech start-up PacketVideo Corp. Monday said it received $90 million in funding from some of the biggest U.S. technology companies, which it plans to invest in designing software to streamline video and audio content over the Internet.

"Investors included Intel Corp. (NasdaqNM:INTC - news), Motorola Inc. (NYSE:MOT - news), Qualcomm Inc. (NasdaqNM:QCOM - news), Sun Microsystems Inc. (NasdaqNM:SUNW - news) and Texas Instruments Inc. (NYSE:TXN - news).

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