Brightcove to Acquire Ooyala

Brightcove has announced a deal to acquire the online video platform (OVP) business of Ooyala.

Financial terms of the deal, expected to close in the first half of this year, were not disclosed. The agreement brings to Brightcove the client base, technology and global operations of its biggest competitor, including “substantial portions” of the engineering, support and sales staff.

“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.”

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