Nasdaq-listed Brightcove will acquire the online video platform (OVP) business of Ooyala, a provider of cloud video technology.
Brightcove, a leading provider of cloud services for video, is buying Ooyala's OVP technology, including video content management and publishing platform Backlot, analytics, live, and underlying IP and associated patents.
As part of the agreement, Brightcove will be acquiring substantial portions of Ooyala's engineering, support, and sales staff, including the company's Guadalajara, Mexico operations.
Jeff Ray, CEO of Brightcove, said, "Ooyala has tremendous global customers who understand the power of video and its ability to transform business and reach new customers. 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."
Jonathan Huberman, CEO, Ooyala, stated, "We hold our customers' success as paramount. Selecting Brightcove further demonstrates this commitment and ensures they will receive a world-class experience. We are pleased our customers will work directly with the market leader."
