Brightcove Deals for Ooyala's Online Video Platform
BOSTON -- Brightcove Inc. (NASDAQ: BCOV), a leading global provider of cloud services for video, today 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. 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 intends to take on all customer, reseller, and partner relationships utilized by Ooyala’s OVP business globally.
Over the past 15 years, Brightcove has developed the most sophisticated online video platform in the market with solutions supporting media, entertainment, marketing, and enterprise spaces. Aspects of Ooyala’s technology will be integrated into the Brightcove platform to provide a more robust global offering for all customers.
The transaction is expected to close in the first half of 2019. BMO Capital Markets acted as exclusive financial advisor to Brightcove on this transaction.