Brightcove this week announced it has entered into a definitive agreement to acquire the online video platform (OVP) business of Ooyala, a provider of cloud video technology. Brightcove is acquiring Ooyala’s OVP technology, including video content management and publishing platform Backlot, Analytics, Live, and its underlying IP and associated patents.
The value of the transaction was $15 million.
As part of the transaction, Brightcove will acquire substantial portions of Ooyala’s engineering, support, and sales staff, including the company’s Guadalajara, Mexico operations. Brightcove says it intends to take on all customer, reseller, and partner relationships utilized by Ooyala’s OVP business globally.
“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. “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.”
The transaction is expected to close in the first half of 2019.