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CNM Update

News | 09/12/2001 4:00 am EDT

NetActive falls victim to VC scarcity
NetActive Inc, an Ottawa-based secure download software provider, has reportedly shut down operations. The company, a spin-off of Nortel Networks Corp was reportedly unable to secure new venture capital to continue its business. The company employed 38. In 1999, the company, then called Channelware was spun out from parent Nortel. The name change came in February 2000 when the company began to focus on software that allowed customers to preview or buy multimedia content from companies such as Disney and Time Warner. At one point, it carried on operations in New York, San Francisco and Los Angeles, in addition to its Ottawa headquarters. More details.

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