US telecom giant AT&T has acquired OTT and TV Everywhere video technology specialist Quickplay Media from Madison Dearborn Partners.
AT&T has previously tapped Quickplay to provide the platform for its U-verse TV Everywhere offering and the company’s technology is being used to support new streaming services from AT&T-owned DirecTV – DirecTV Now, DirecTV Mobile and DirecTV Preview – that will be launched later this year.
The telco said it would retain Quickplay’s more than 350 employees and contractors.
The pair expect to close the deal in mid-2016, subject to regulatory approval. Terms were not disclosed.
Our strategy is to deliver video content however, whenever and wherever. Quickplay’s multitenant IP distribution infrastructure, combined with AT&T’s leading scale in IP connected end points, will allow us to host and distribute all forms of video traffic. We intend to scale and operate an industry-leading video distribution platform, and viewers will get the high-quality online video viewing experience they desire,” said John Stankey, CEO, AT&T Entertainment Group.
“We’ve spent more than a decade developing an advanced technology and service platform that can deliver premium video content to any device and over any network. Our solution is highly automated and scalable. With AT&T, we’ll have the resources we need to further scale, grow the business, and continuously enhance that platform. Our team is proud of what we’ve built so far and excited to join the AT&T family. This combination will help us power the next generation of video services,” said Wayne Purboo, founder and CEO, Quickplay.