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BOXBOROUGH, MA-Broadbus Technologies, Inc. is relocating its headquarters from Chicago to 80 Central St. The company, which develops video-on-demand server systems for the cable television industry, recently raised over $12 million in financing.

A company representative tells GlobeSt.com that Broadbus is subleasing its headquarters here from Nortel Networks. Further details regarding the deal were not available. The company plans to move into its new location next week.

The investment round was led by Battery Ventures, of Wellesley, MA and Charles River Ventures, which is based in Boston. Comcast Interactive Capital, Wolf Ventures and several other private investors also participated. Santo Politi, general partner with Charles River Ventures and Todd Dagres, general partner with Battery Ventures will join the company’s board of directors.

Dagres emphasizes that Broadbus is in a good position to accelerate the deployment of the current video on demand and subscription video-on-demand services, and to provide a path to television on demand services because its multiple system operators can take full advantage of the “hybrid fiber coax” for the delivery of advanced video services. He points out that Battery’s investment in Broadbus is very much in keeping with his company’s strategy of investing in ‘best of breed’ cable infrastructure companies, which, he stresses “is supported by a deep understanding of both the opportunities and pitfalls companies face in the cable industry.”

Broadbus says it will use the funds to fully execute on its business plan, which is to complete the development and initial deployment of its “B-1 line” of servers, and facilitate the strategic product launch of its video on demand server system. The company says that this “video streaming server system solves the scalability bottlenecks limiting major cable companies from deploying full-service on-demand video services to more than 70 million households.”

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