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News Burst: Energis to buy stake in Geo

Telecoms operator Energis is set to take a stake in Geo Interactive Media, an Israel-based maker of audio and video streaming technology. Energis will pay £7.

Telecoms operator Energis is set to take a stake in Geo Interactive Media, an Israel-based maker of audio and video streaming technology. Energis will pay £7.5m for a 5.6 percent stake, giving it exclusive European rights to the proprietary Emblaze streaming software. Emblaze allows users to receive real-time Internet audio and video without the use of a plug-in.

The deal is good news for Geo which does not yet have a strong European presence.