Tuesday, August 4, 2009
Sorenson Media Holds Slice Of IPO Pie
San Diego-based Sorenson Media, a provider of Internet video codecs and related software and services, is a potential beneficiary of an Internet IPO, that of Provo, Utah-based Ancestry.com. Sorenson--which maintains much of its operations in Utah, but now has Peter Csathy heading up its executive ranks in San Diego--was an investor in a quiet recap of Ancestry.com, which said Monday that it has filed for a $75M IPO. Sorenson Media invested alongside private equity firm Summit Partners in a 2007 recap, along with a few other minority investors. Sorenson Media owns just under 6 percent of Ancestry.com, with Summit owning 67 percent of the firm.