Australian telco Telstra is to acquire video streaming and analytics specialist Ooyala.
The US$270 million investment increases Telstra’s ownership in Ooyala from 23 per cent (fully diluted) to 98 per cent and is in addition to the $61 million previously invested in Ooyala over the past two years. This transaction is subject to customary closing conditions including the receipt of US regulatory approvals and is expected to be completed in the next 60 days.
This is the first investment for Telstra’s Global Applications & Platforms group. Global Applications & Platforms strategy is to create long-term global growth in markets that are adjacent to Telstra’s core business, where software disrupts traditional business models.
Telstra says it has deep expertise in the digital media space, and can provide the necessary and ongoing investments and business relationships to build on Ooyala’s leadership in personalised video.
Ooyala was founded in 2007 and is forecasting revenue of US$65 million for CY2014. The company has more than 330 employees worldwide and a global footprint of 135 million unique users in nearly 240 countries.
Ooyala has some of the largest companies in the world currently using its platform including Telstra, ESPN, Univision, Telegraph Media Group, Dell, Sephora, Foxtel, NBC Universal, Comedy Central, News Corp and The Washington Post.
Source: http://cablequest.org/news/international-news/item/5705-cq-telstra-acquires-ooyala.html
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