Concurrent Selling Content Delivery & Storage Unit in $29 Million Deal to Vecima Networks

Concurrent agreed to sell its Content Delivery & Storage business to network technology manufacturer Vecima Networks "for a base purchase price of $29 million, subject to adjustment for normalized net working capital," the VOD and streaming gear maker said Monday. "Rapid growth in IPTV delivery across both MVPD private" content delivery networks and over-the-top "providers will continue to accelerate," said Vecima CEO Sumit Kumar.