Brightcove to buy Ooyalas video business for $15m
- Thursday, February 14th, 2019
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Long-time cloud video technology collaborators and rivals Brightcove and Ooyala have penned an agreement that will see Brightcove acquire Ooyala’s online video platform (OVP) business for $15m. The transaction is expected to close in the first half of this year.
Under the deal, Brightcove will gain Ooyala’s video content management and publishing platform Backlot, Analytics, Live, and its underlying IP and associated patents. In addition, Brightcove will acquire ‘substantial portions’ of Ooyala’s engineering, support, and sales staff, including its operations in Guadalajara, Mexico. Moreover, Brightcove intends to take on all customer, reseller, and partner relationships utilised by the OVP business around the world.
“Ooyala has tremendous global customers who understand the power of video and its ability to transform business and reach new customers,” said Jeff Ray, CEO of Brightcove. “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. We look forward to welcoming Ooyala’s OVP customers and ensuring a smooth transition and a world-class experience for them.”
Back in 2017, Ooyala filed a lawsuit against Brightcove for the alleged theft of trade secrets following a collaboration between the pair in Latin America.