Brightcove agreed to acquire the online video platform business Ooyala.
Brightcove said it is buying Ooyala’s video content management and publishing platform Backlot, Analytics Live and underlying intellectual property and patents.
It will also be taking on a substantial portion of Ooyala’s engineering, support and sales staff. Brightcove said it plans to take on Ooyala’s business relationships in the online video platform space.
Financial terms were not disclosed.
“Ooyala has tremendous global customers who understand the power of video and its ability to transform business and reach new customers,“ said Brightcove CEO Jeff Ray,
“This transaction, which includes immediately growing our highly skilled and committed global workforce, accelerates our ability to deliver faster innovation and deeper support for all customers. We also will increase our market reach and further strengthen our ability to secure new business in key target markets,” Ray said. “We look forward to welcoming Ooyala’s OVP customers and ensuring a smooth transition and a world-class experience for them.”
Some of Ooyala’s technology will be integrated into the Brightcove platform.
The transaction is expected to close in the first half of 2019.
“We hold our customers’ success as paramount. Selecting Brightcove further demonstrates this commitment and ensures they will receive a world-class experience,” said Ooyala CEO Jonathan Huberman. “Brightcove is doing amazing things in the OVP market, and we are pleased our customers will work directly with the market leader.”
The smarter way to stay on top of broadcasting and cable industry. Sign up below.
Thank you for signing up to Broadcasting & Cable. You will receive a verification email shortly.
There was a problem. Please refresh the page and try again.