On Wednesday, Widevine Technologies, a provider of technology to stop the theft of digital video, said it has received funding from several investors, including Cisco Systems, to the tune of $16 million, Reuters reports via The Washington Post.
Privately held Widevine’s encryption technology scrambles digital video signals after they’ve been sent from an originator and decrypts them when they reach the proper recipient, according to Reuters.
Vamsi Sistla, an ABI Research analyst, told Reuters, “This gives Cisco pretty much a ground-floor opportunity to use Widevine’s technology in some of their future home devices.”
Cisco is one of a handful of companies that is hastily attempting to make inroads into the booming digital video market. The company purchased Scientific-Atlantic for some $7 billion earlier this year. For more, read Cisco Closes Scientific-Atlanta Deal.
“Clearly they recognize that content security is an incredibly valuable and necessary component in that video offering,” said Widevine Chief Executive Brian Baker, according to Reuters.
Telus, a Canadian telecom firm, also handed down funding to Widevine, Reuters reports.