Brightcove, a leading provider of cloud services for video, has completed the US$15 million (€13.4 million) acquisition of the online video platform business of cloud video tech firm Ooyala. As a result, Ooyala will now devote its energies to the workflow aspect of its business.
Ooyala CEO Jonathan Huberman said: “With this transaction, Ooyala’s sole focus is to continue delivering the best advanced workflows in the market with our Flex Media Platform. Flex delivers value to all our customers including film and TV studios, broadcasters and other media companies, which in turn is driving our business growth to over 100% annually.”
In recent months, Ooyala has signed clients including HBO, Turner, PPC and LFP. Ooyala says all have reduced time-to-market and increased ROI since deploying its workflow and media-asset-management solutions.
Brightcove said the acquisition strengthens its position as a market leader in the online video industry.
“We look forward to providing a world-class experience for all of our new, future, and existing customers and employees,” said Jeff Ray, CEO, Brightcove.
“The addition of our new team members further positions Brightcove to accelerate our speed of innovation and provide deeper support for all of our customers. We are living in the age of video and are 100% committed to ensuring our customers reap the power and value of video technology to help propel their businesses forward.”
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