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Liberate Technologies Completes Acquisition of Virtual Modem Technology From
SourceSuite, a Source Media and Insight Communications Joint Venture Increases
Range of Set-Top Boxes on Which Liberate's Software Can Operate
SAN CARLOS, Calif., Mar 6, 2000 /PRNewswire via COMTEX/ -- Liberate
Technologies (Nasdaq: LBRT) today announced completion of the acquisition of
VirtualModem(TM) software and all tangible assets and intellectual properties
related to the VirtualModem business, located in London, Ontario, Canada, from
SourceSuite, a joint venture of Source Media (Nasdaq: SRCM) and Insight
Communications (Nasdaq: ICCI).
As initially announced on January 13, 2000, VirtualModem technologies acquired
in this deal extend the Liberate software platform to a broader range of set-top
boxes; specifically, the large installed base of digital set-tops such as the
General Instruments DCT-1200 and DCT-2000. These boxes, totaling more than 4.5
million in North America, are expected to account for a considerable share of
the installed base of digital set-top boxes for the foreseeable future.
In addition, Liberate will make the Source Media/Insight joint venture a
preferred content provider so that all of Liberate's cable partners can benefit
from the local content product LocalSource(SM) and/or the interactive program
guide SourceGuide(SM). Liberate will continue to update the VirtualModem
technology so that LocalSource and SourceGuide can be ported to other platforms. |
