Brightcove has acquired Ooyala’s video platform business in a deal worth $15 million.
It includes Ooyala’s video content management and publishing platform Backlot, Analytics Live and underlying intellectual property and patents as well as a “substantial portion of Ooyala’s engineering, support and sales staff”.
Brightcove said it plans to take on Ooyala’s business relationships in the online video platform space. It also plans to integrate Ooyala’s technology into the Brightcove platform.
“Ooyala has tremendous global customers who understand the power of video and its ability to transform business and reach new customers,“ said Brightcove CEO Jeff Ray,
“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,” Ray said. “We look forward to welcoming Ooyala’s OVP customers and ensuring a smooth transition and a world-class experience for them.”
The transaction is expected to close in the first half of 2019. Brightcove agreed to pay $9 million in stock (at Wednesday’s closing price of $8.58) and $6.25 million in cash for Ooyala.