Brightcove to Acquire Ooyala's Video Platform Business
Brightcove, a provider of cloud services for video, will acquire the online video platform business of Ooyala, a provider of cloud video technology. Financial terms of the deal were not disclosed.
Brightcove is acquiring Ooyala's online video technology, including video content management and publishing platform Backlot, Analytics, Live, and associated patents. Brightcove will also acquire substantial portions of Ooyala's engineering, support, and sales staff, including the company's Guadalajara, Mexico operations. Brightcove intends to take on all customer, reseller, and partner relationships as well.
"Ooyala has tremendous global customers who understand the power of video and its ability to transform business and reach new customers," said Jeff Ray, CEO of Brightcove, in a statement. "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. We look forward to welcoming Ooyala's OVP customers and ensuring a smooth transition and a world-class experience for them."
"We hold our customers' success as paramount. Selecting Brightcove further demonstrates this commitment and ensures they will receive a world-class experience," said Jonathan Huberman, CEO of Ooyala, in a statement. "Brightcove is doing amazing things in the OVP market, and we are pleased our customers will work directly with the market leader."
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