Game Software Delivery – STEAM.EXE
Valve Software describes STEAM as follows: "Steam is a broadband business platform for direct software delivery and content management. At its core, Steam is a distributed file system and shared set of technology components that can be implemented into any software application. With Steam, developers are given integrated tools for direct-content publishing, flexible billing, ensured-version control, anti-cheating, anti-piracy, and more. Steam consumers enjoy the benefit of starting their favorite applications within minutes of confirming their purchase. They can access their applications from any PC. They are no longer challenged to find the latest updates for these applications. And they no longer need to wonder if their device drivers are compatible with the latest software." .
In a nutshell, you're going to need to have this file if you play any of Valve's games including Half Life, Counter Strike, Team Fortress, Team Fortress 2, and Day of Defeat. Because this is a development tool, it may be bundled with many other programs. Most seem to be game oriented.
More info is available at http://www.steampowered.com/.
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Valve Software