Brightcove, an online video hosting platform, announced plans to acquire Ooyala, an online video platform (OVP). While details were not disclosed, multiple reports state that the acquisition totaled $15 million.
“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,” said Jeff Ray, CEO of Brightcove, in a statement. “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 world-class experience for them.”
“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 of Ooyala, in a statement. “Brightcove is doing amazing things in the OVP market, and we are pleased our customers will work directly with the market leader.”