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Level 3 Acquires European Streaming Provider

Broomfield, Colorado-based Level 3 Communications, said Wednesday that its operating subsidiary has acquired Servecast Limited, a Dublin-based provider of live and on-demand video management and streaming services. The deal is worth 33M euros, approximately $45M US in cash. Servecast provides distribution and publishing tools for video providers, used to stream videos from web sites. Level 3 said it will maintain Servecast's operations in Dublin, along with data centers in London and Amsterdam. According to Level 3, Servecast had $5M in revenues for 2006.