MUMBAI: Brightcove, a global provider of cloud services for video, has announced that it has entered into a definitive agreement to acquire the online video platform (OVP) business of Ooyala, a provider of cloud video technology.

It also includes acquiring video content management and publishing platform Backlot, Analytics, Live, and its 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. It intends to take on all customer, reseller, and partner relationships utilised by Ooyala’s OVP business globally.

Brightcove CEO Jeff Ray said, “Ooyala has tremendous global customers who understand the power of video and its ability to transform business and reach new customers. 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.”

Over the past 15 years, Brightcove has developed the most 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.

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

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