Brightcove to acquire Ooyala’s online video platform business

MUMBAI: Nasdaq-listed Brightcove, a leading provider of cloud services for video, has entered into a definitive agreement to acquire the online video platform (OVP) business of Ooyala, a provider of cloud video technology.

Brightcove is acquiring Ooyala’s OVP technology, including video content management and publishing platform Backlot, analytics, live, and underlying IP and associated patents.

As part of the transaction, Brightcove will acquire substantial portions of Ooyala’s engineering, support, and sales staff, including the company’s Guadalajara, Mexico operations. Brightcove intends to take on all customer, reseller, and partner relationships utilized by Ooyala’s OVP business globally.

“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, 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.”

Over the past 15 years, Brightcove has developed sophisticated online video platform in the market with solutions supporting media, entertainment, marketing, and enterprise spaces. Aspects of Ooyala’s technology will be integrated into the Brightcove platform to provide a more robust global offering for all customers.

“We hold our customers’ success as paramount. Selecting Brightcove further demonstrates this commitment and ensures they will receive a world-class experience,” said Jonathan Huberman, CEO, Ooyala. “We are pleased our customers will work directly with the market leader.”

The transaction is expected to close in the first half of 2019.

BMO Capital Markets acted as exclusive financial advisor to Brightcove on the transaction.