IBM Acquires Ustream to Power Video Services Division
- Friday, January 22nd, 2016
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IBM has acquired video live-streaming firm Ustream in order to strengthen the companys capabilities in cloud-based video, power its new video services division and expand its video offerings to enterprise clients.
Ustream currently provides cloud-based video streaming to both broadcasters and enterprises, streaming everything from live music concerts to corporate keynote speeches, and has worked with companies including Facebook, Samsung, Nike and NASA, streaming live and on-demand video to over 80m viewers per month.
The company will join with assets from IBMs R&D labs and strategic acquisitions to form IBM Cloud Video Services, which aims to deliver a powerful portfolio of video services spanning open API development, digital and visual analytics, and simplified management and delivery for global industries.
“Video today is the most powerful and the most emotional medium on the internet,” said Brad Hunstable, CEO of Ustream. “Businesses are getting on board and using video in new and exciting ways, from marketing to their customer, all the way to using it internally to talk to their employees and engage in training in a very innovative fashion.
“Ustream built a world-class video product with a world-class video team. Now, as an IBM company, we bring our technology solutions to the leader in enterprise and cloud.”
The financial terms of the deal werent disclosed, but based on earlier rumours of the sale, IBM is expected to have paid in the region of $130m (£90m) for the company.