SGI Spins-Off MediaBase Technology to Form New Company Called Kasenna

SGI announced today that it was spinning off its MediaBase streaming media software into its own company called Kasenna (http://www.kasenna.com).

Kasenna announced it received $14.5 million in initial funding from venture capital companies U.S. VenturePartners, Alloy Ventures, Entertainment Media Ventures.

The new company's mission is to provide the management, serving and distribution of high-quality digital video over broadband Internet for business-to-business and business-to-consumer applications.

"With this launch, Kasenna becomes the premier supplier of media servingsolutions and services tailored to the emerging broadband Internetarchitecture," said Tom Engdahl, president and CEO of Kasenna. "Kasenna'svision is to provide the infrastructure that allows media-centric companies to capitalize on the emerging broadband marketplace. At the same time, we'vesolved the technical challenges of delivering quality Internet video fordistribution-focused companies."

Kasenna is headquartered in Mountain View, California.