In a move that will allow it to build a personalised cloud-based TV and video platform company, telecom giant Telstra is to acquire video streaming and analytics company Ooyala after the companies’ definitive agreement reached in August.
The US$270 million investment sees Telstra take the controlling stake in Ooyala, a company in which it already had a 23% share. Ooyala will become a subsidiary of Telstra, and will operate as an independent business, retaining the Ooyala brand, under the leadership of its existing management team led by chief executive officer Jay Fulcher.
“With today’s news, we combine the backing of one of the strongest telco companies in the world with the intensity and agility of an independent Silicon Valley company,” said Fulcher about the agreement.
