Wednesday, June 30, 2010
Move Networks Lays Off Staff, Looks For Buyer
Move Networks, the video streaming technology provider started by Novell founder Drew Major, confirmed Wednesday evening that it is looking for a buyer, and has laid off staff. The firm also said that its President and CEO, Roxanne Austin, has departed the firm. The confirmation comes after earlier rumors that the firm had shut down. The company said, through its board, that the firm is now looking for "strategic alternatives", including sale of the company. In the interim, the firm said that Marcus Liassides, Executive Vice President of Sales and Business Development, has become President of the firm. Move was backed by Steamboat Ventures, Hummer Winblad Venture Partners, Benchmark Capital, Microsoft, Cisco, Comcast and Televisa. Move is now headquartered in Southern California, but until recently also still had operations in American Fork, where it was founded. It's unclear how the latest layoffs and sale have affected employees in Utah.