Acinion Becomes Blackwave and Gets $16 Million in Funding

Acinion, a provider of advanced storage and
delivery infrastructure solutions for Internet video, thas changed its name to Blackwave Inc. The company also reported it
has raised $16 million in Series B financing led by Sigma Partners and
joined by both of its Series A financing investors – Globespan Capital
Partners and IDG Ventures Boston.

Blackwave Inc.
is delivering infrastructure technology that increases video delivery
efficiency by a factor of ten while dramatically reducing the cost of
content delivery.  The current funding round will enable the company to
expand its engineering, marketing and sales teams as it rolls out its
Internet video storage and delivery systems in the first quarter of
2008.

“Having attracted top-tier investors, we can accelerate our ability to
meet the rapidly growing demand for innovation in the Internet video
infrastructure market,” said Robert Rizika, Blackwave’s President and
Chief Executive Officer.  “We are well-capitalized to bring an
unparalleled infrastructure solution to market for anyone looking to
cost-effectively deliver Internet video, including media &
entertainment companies, CDNs, social media, and aggregators.”

Blackwave will introduce its
initial product offering in the first quarter of 2008

Blackwave Inc.