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Liberating Technology
Liberate Technologies says it has integrated Macromedias Flash Player into its interactive television software, which should speed development of new applications. Liberate claims its software was in use in more than 1.5 million set-top boxes at the end of May.
Directory Investment
Telenor, Norways largest phone company, will sell its directory business to Texas Pacific Group for $670 million. Telenor is trying to expand its wireless business, and selling the directory unit will free up much-needed cash.
VC Flows
Edgeflow, a Canadian developer of metro optical networking gear, landed $24 million in series A funding from BTG, Desjardins Venture Capital Group, Newbury Ventures, Pan Dacom Networking, and others. The company will use the money to bring its Optical Add/Drop Switch to customer trials. The network component integrates optical switching and transmission in a single unit, reducing cost and network complexity for carriers and service providers.