Shuttered Akimbo looking for buyer

Dan O'Shea — Sat, 24 May 2008 19:15:02 -0400

Akimbo, a video set-top box vendor turned white-label video content firm that was involved in AT&T's Homezone service, is shutting down and looking for a buyer, according to GigaOM's NewTeeVee. AT&T also had invested in Akimbo. So did Cisco Systems, along with some prominent venture capital firms.

Akimbo's fortunes were looking pretty bright back in 2006 when AT&T seemed to be betting strong on DSL-based HomeZone and taking it slow with fiber-based Project Lightspeed. However, it could not make the set-top business work and has been adjusting its business model ever since. Those adjustments toward white-label video publishing apparently netted Akimbo a modest amount of new financing earlier this year (a round which again reportedly included AT&T), but the company announced at the beginning of May that it was laying off several people.

For more:
- check out this post at NewTeeVee

Related articles:
- Akimbo announced the white-label business model back in March. Akimbo report
- Cisco and AT&T invest in Akimbo. Akimbo report

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Shuttered Akimbo looking for buyer