| SAN FRANCISO— Intellectual property (IP) licensing company Patriot Scientific Corp. has acquired a nearly 20 percent stake in Avot Media, a Sunnyvale, Calif.-based provider of real-time streaming and video delivery to mobile devices, the company said Monday (Sept. 8). Financial terms were not disclosed.
Paul Bibeau, vice president of business development at Patriot (Carlsbad, Calif.) said through a statement that video-enabled handsets are expected to increase from less than 5 percent of the market currently to more than 70 percent within a few years.
"Avot Media has differentiated technology and is making excellent progress with potential carrier customers in field trials," Bibeau said. "Initial revenues are expected from opportunities in Asia and Europe as the global marketplace is primed for the deployment of video to mobile devices."
As part of the deal, Patriot CEO Rick Goerner has joined Avot's board of directors
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