Brightcove to acquire Ooyala’s online video platform businessWednesday, February 13th, 2019
Brightcove Signs Definitive Agreement to Acquire Ooyala’s Online Video Platform Business
- Addition of Client Base, Technology, Employees, and Global Operations Enhances Brightcove’s Market Leading Capabilities and Support for Global Customer Experience
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.
“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.”
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.
“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. “Brightcove is doing amazing things in the OVP market, and we are pleased our customers will work directly with the market leader.”
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.