Brightcove has completed its acquisition of rival Ooyala’s online video platform (OVP) business, a move it said would strengthen its position in the online video space.
Brightcove agreed to buy Ooyala’s OVP business for roughly US$15 million in February, taking on technology that includes video content management and publishing platform Backlot, Analytics, Live and its underlying IP and associated patents.
As part of the deal, Brightcove also acquired substantial portions of Ooyala’s engineering, support and sales staff, including the company’s Guadalajara, Mexico operations. Brightcove plans to take on all of Ooyala’s OVP customer, reseller, and partner relationships globally.
“This is an exciting time for the company as we integrate Ooyala’s OVP business into Brightcove. We are thrilled to welcome Ooyala’s OVP customers to the family, along with our new team members in Guadalajara and around the globe,” said Brightcove CEO Jeff Ray, commenting on the close of the deal.
“We look forward to providing a world-class experience for all of our new, future, and existing customers and employees. The addition of our new team members further positions Brightcove to accelerate our speed of innovation and provide deeper support for all of our customers.
“We are living in the age of video and are 100% committed to ensuring that our customers reap the power and value of video technology to help propel their businesses forward.”
The news comes after Ooyala’s management completed its buyout of the company in October 2018 after previous owner Telstra wrote down the value of the video business to zero earlier the same year. Ooyala’s clients include StarHub, Arsenal Media Group and Portugal’s NOS.