QuickFire Networks, a San Diego, CA-based provider of solutions that accelerate the Cloud to satisfy the demands of today’s processor-intensive applications, has been acquired by Facebook (Nasdaq: FB).
The amount of the deal was not disclosed.
Led by Craig Y. Lee, CEO, QuickFire Networks aimed to solve the capacity problem of current network infrastructure which is not sufficient to support the massive online video consumption without compromising on quality via proprietary technology that reduced the bandwidth needed to watch content.
QuickFire’s team will now join Facebook, which has more than one billion video views on average every day, to help improve the video experiences to people who consume video on the social network.
As part of the transaction, some key members of the team will be joining Facebook and the company will shut down business operations.