Brightcove acquires Ooyala's online video platform
Brightcove has completed the acquisition of Ooyala's online video platform (OVP) business for $15m.
Brightcove buys Ooyala's OVP
In 2017, video hosting company Ooyala sued Brightcove for stealing trade secrets. Now, Brightcove is rolling its former competitor's OVP into its robust cloud video services offering.
Brightcove chief executive officer Jeff Ray said: "The addition of our new team members further positions Brightcove to accelerate our speed of innovation and provide deeper support for all of our customers. We are living in the age of video and are 100% committed to ensuring that our customers reap the power and value of video technology to help propel their businesses forward."
As for Ooyala, it will focus its resources on developing its Flex Media Platform where publishers can manage and monetize their content. Ooyala recently signed HBO and Turner to the platform.
Ooyala chief executive officer Jonathan Huberman said Flex Media Platform is "driving out business growth by over 100% annually".