Israel's Beamr to buy Vanguard Video, raises $15 mln

JERUSALEM, March 29 (Reuters) - Israel’s Beamer, whose technology compresses video while preserving quality, said on Tuesday it was acquiring video conversion tech firm Vanguard Video to bolster its line of video encoding, media compression and optimisation products.

Beamr, which did not disclose financial details of the purchase, said it will be able to achieve unprecedented levels of video quality at very low bit rates to allow cable, satellite, mobile and other operators to deliver high quality video over congested networks.

For operators, “it will enable users to stay below newly-imposed ISP data caps, while still enjoying full HD (high definition) content on a variety of connected devices,” Beamr said.

At the same time, Beamr said it raised $15 million in a private funding round led by Disruptive Growth and with participation from Marker and Innovation Endeavours, which is solely backed by Google Executive Chairman Eric Schmidt.

Beamr said that with 80 percent of internet traffic predicted to be video by 2019, the industry is seeking to stave off network congestion by incorporating compression solutions to shrink files sizes. (Reporting by Steven Scheer; Editing by Tova Cohen)