Speedus.com Inc. (Nasdaq: SPDE) soared 100 percent to 7 17/32 on Tuesday after it licensed technology from Cisco Systems Inc. (Nasdaq: CSCO). The technology allows real-time video and audio for subscribers.
Cisco's Internet Protocol-TV technology will allow Speedus, a high-speed Internet service provider, to offer video programs, both live and pre-recorded, using Cisco IP/TV viewer software to its customers. The technology will allow a number of users to view the same video stream.
"Speedus can contract with any media content provider for multi-casting and streaming high-quality video and audio on a secure basis in New York," said Vera Nelson, Program Manager for Cisco IP/TV.
The Brooklyn-based company operates a Linux-based Internet gateway transmitter and a teleport facility with satellite downlinks and fiber-optic cable backbone. This network allows Speedus to offer streaming video. Speedus.com also provides standard direct dial-up and ISDN service with web hosting, e-mail and value-added Internet services.