New Zealand cloud video startup eBUS acquired by media logistics firm IMD

eBUS, a New Zealand startup with a presence in Singapore, India, and Australia, has been acquired for undisclosed terms by IMD, a London-based media logistics operator.

Founded in 2005 by Carmine Masiello, eBUS deals in cloud-based video transfer services for the advertising industry.

Its technology can transfer television advertisements from location to location in under 10 minutes. Clients include advertisers, production firms, television broadcasters, web publishers, and online marketers.

eBUS has been back by Auckland startup incubator The Icehouse and local venture capital firms Movac and Sparkbox Ventures. Singapore-based Jungle Ventures, an early stage and growth stage fund, also invested in the company in April 2012.

The investment will speed up eBUS’ expansion into Asia Pacific. It will also strengthen IMD’s digital TV ad delivery service in the region.