\n\tNEW YORK\/SANTA CLARA: Verizon Communications has reached an agreement to purchase the assets of Intel Media, acquiring the intellectual property rights and other assets that enable the OnCue Cloud TV platform.<\/p>\n
\n\tThe terms of the deal were not disclosed. The transaction is expected to be complete early in the first quarter. Once the deal is closed, Verizon will integrate IP-based TV services with FiOS video. The aim is to let Verizon subscribers watch content any time on any device over both fixed and mobile networks.<\/p>\n
\n\tLowell McAdam, the chairman and CEO of Verizon, said: “The OnCue platform and team will help Verizon bring next-generation video services to audiences who increasingly expect to view content when, where and how they want it. Verizon already has extensive video content relationships, fixed and wireless delivery networks, and customer relationships in both the home and on mobile. This transaction provides us with the capabilities to build a powerful, capitally efficient engine for future growth and innovation. We will have the opportunity to enhance, expand, accelerate and integrate our delivery of video products and services to better serve audiences on a wide array of devices.”<\/p>\n
\n\tBrian Krzanich, CEO of Intel Corporation, added: “Intel Media’s over-the-top TV products are truly innovative and under Verizon’s ownership have the potential to change how people interact with content. The critical factor in gaining efficient access to content is based on your ability to scale quickly in subscribers and end users, which is why selling these assets to Verizon makes perfect sense, with its millions of FiOS network and wireless customers. This sale also enables Intel to further align our focus and resources around advancing our broad computing product portfolio in segments ranging from the Internet-of-Things to data centers.”<\/p>\n
\n\tErik Huggers, the corporate VP and general manager of Intel Media, said: “We’re incredibly proud of what we’ve achieved. Intel provided us with the technological know-how and resources to develop products and services that will fundamentally change the way we experience TV, and now Verizon gives us access to the marketplace and the ability to scale. It’s the next logical step, and we’re excited about the road ahead.”<\/p>\n","protected":false},"excerpt":{"rendered":"
NEW YORK\/SANTA CLARA: Verizon Communications has reached an agreement to purchase the assets of Intel Media, acquiring the intellectual property rights and other assets that enable the OnCue Cloud TV platform. The terms of the deal were not disclosed. The transaction is expected to be complete early in the first quarter. Once the deal is …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[69],"tags":[],"class_list":["post-5461","post","type-post","status-publish","format-standard","","category-top-stories"],"yoast_head":"\n