Brightcove, a video cloud solution for managing, broadcasting and monetizing video content, announced on Wednesday the signing of an agreement for the acquisition of video advertising technology company Ooyala for $ 15 million – $ 6.25 million in cash and the rest in Brightcove shares. The transaction is expected to close in the first half of 2019.
Why You Should Care
Distributors and video publishers use Brightcove to manage video inventory for their brand. With the acquisition of Ooyala, Brightcove will be able to offer customers a more complete technology and video management platform while significantly expanding its customer base and market reach.
According to this announcement, Brightcove will acquire Ooyala's online video technology solutions. , including the Backlot, Analytics and Live platforms, as well as the underlying intellectual property of the company and associated patents.
"This transaction, which includes the immediate growth of our highly skilled and engaged global workforce, accelerates our ability to deliver faster, deeper innovations. support for all customers. We will also increase our presence in the market and strengthen our ability to secure new business in key target markets, "said Jeff Ray, CEO of Brightcove.
Learn more about the news
In addition to the acquisition of the technological platform of Ooyala, Brightcove says that it will also appropriately " substantial shares of Ooyala 's engineering, sales and assistance staff, in addition to its relationships with customers, resellers and partners. The acquisition follows Brightcove's fourth quarter financial results for 2018. The company's revenue for last year, the business turnover reached $ 164.8 million, an increase of 6% compared to the previous year. Jonathan Huberman, CEO of Ooyala, said the agreement guaranteed that Ooyala customers would benefit from a "world class experience" and that he was delighted to be able to work directly with a market leader.
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Amy Gesenhues is the Editor-in-Chief of the Third Door Media General Assignment , which presents the latest news and updates for Marketing Land and Search Engine Land. From 2009 to 2012, she was an award-winning columnist for several dailies from New York to Texas. With over ten years of experience in marketing management, she has contributed to various traditional and online publications, including MarketingProfs.com SoftwareCEO.com and the magazine Sales and Marketing Management. Read more articles from Amy.