Facebook buys video tech startup QuickFire Networks

Facebook is acquiring QuickFire Networks, a video processing and transcoding company that should help the social network deliver video more efficiently to its users as more of it shows up in their feeds.QuickFire, based in San Diego, makes proprietary technology to reduce the amount of bandwidth needed to view video online without degrading its quality. The company says its transcoding service can compress videos to lower bit rates without sacrificing quality and increase video quality withou