Double C Technologies--a joint venture of cable giants Comcast and Cox--is purchasing the assets of San Mateo, Calif.-based interactive software provider, Liberate.
As part of the $82 million deal, Double C Technologies will receive assets including patents and other intellectual property from Liberate. The joint venture intends to make offers to roughly 130 employees located in London and Ontario, Canada offices.
The agreement will not be effective until the U.S. District Court for Northern California has dismissed the bankruptcy appeal that Liberate is pursuing. After the deal closes, both parties plant to cross-license technology and intellectual property to one another. Liberate will retain its European business and services.
Liberate is currently developing a software platform for digital cable products and applications.
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