Brightcove on Wednesday announced it has entered into a definitive agreement to acquire Ooyala’s online video platform (OVP) business.
Financial terms of the transaction were not disclosed. The companies anticipate the deal will close in the first half of 2019.
Brightcove will be acquiring Ooyala’s technology, including video content management and publishing platform Backlot, Analytics, Live, and its underlying IP and associated patents. Brightcove will also be acquiring parts of Ooyala’s engineering, support and sales staff, including the company’s Guadalajara, Mexico, operations. Brightcove plans to continue serving all of the customer, reseller and partner relationships within Ooyala’s OVP business.
“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.”
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Brightcove has already developed an existing online video platform supporting media, entertainment, marketing and enterprise spaces, and aspects of Ooyala’s technology will be integrated into the Brightcove platform.
“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.”
This deal, which should accelerate Brightcove’s growth in the media and entertainment space, arrives less than two years after the companies were locked in a legal dispute.
In May 2017, Ooyala filed a lawsuit claiming that Brightcove improperly obtained confidential corporate information to hurt Ooyala and boost Brightcove’s sales efforts in Latin America.