Canada-based software developer Bluestreak Technology has been acquired by online video technology provider Espial for an undisclosed amount, providing an exit to corporate-backed venture capital firm Iris Capital.
Founded in 2002, Bluestreak’s software enables interactive television to be accessed on devices including smartphones, tablets, smart televisions and set-top boxes.
Bluestreak had raised approximately $42m in funding, including a $20m series D round in 2007 featuring Iris Capital, which is backed by telecommunications company Orange and marketing firm Publicis, as well as Solidarity Fund QFL, BDC Venture Capital, First Capital Group and Tomorrow Group.
Bluestreak also secured C$5m ($4m) in series E funding in 2009, though it did not disclose the investors in that round.
Erick Lamarche, chief executive of Bluestreak, said: “We are excited to join Espial, whose focus on enabling compelling viewing experiences for network operators and consumer devices is consistent with our own.
“With customers ranging from leading pay TV operators to major electronics brands worldwide, Espial brings scale, solutions, and global services which will benefit Bluestreak’s customers now and in the future.”