Qualcomm-backed PowerCloud Systems has been acquired in a sub-$50m deal by broadcast and internet service provider Comcast.
US-based wireless network equipment provider PowerCloud Systems has been acquired by media and technology company Comcast for an undisclosed figure under $50m, TechCrunch reported on Monday.
The acquisition will provide an exit for Qualcomm Ventures, the corporate venturing division of telecommunications equipment maker Qualcomm, which backed the company in its $6m series B round in 2011. Other exiting investors are Walden Venture Capital, Javelin Venture Partners and Palo Alto Research Center (PARC).
Comcast reportedly acquired PowerCloud to offer new services…
