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Short Take: Cidera nets $36 million, names CEO

Cidera, a satellite-based content distribution company, announced it raised $36 million in funding from Dell Computer, MCI WorldCom and PSINet. The funding first was revealed in the company's federal filings for an initial public stock offering. Cidera, formerly known as SkyCache, also named Richard Hanna as its new chief executive officer. Hanna, who served as president of fixed wireless company Teligent's international division, replaces Doug Humphrey who will remain as chairman of the board of directors.

Cidera, a satellite-based content distribution company, announced it raised $36 million in funding from Dell Computer, MCI WorldCom and PSINet. The funding first was revealed in the company's federal filings for an initial public stock offering. Cidera, formerly known as SkyCache, also named Richard Hanna as its new chief executive officer. Hanna, who served as president of fixed wireless company Teligent's international division, replaces Doug Humphrey who will remain as chairman of the board of directors.