Acquisition of Video Streaming Firm Ooyala by Australian Telecom Company Telstra

2014-08-13
Published : Aug-2014

Ooyala which is a streaming video monetization and distribution platform is being brought by Telstra, an Australian telecom firm. Telstra will invest $270 million to reach a 98 percent ownership stake in Ooyala.

According to sources, Ooyala will be wholly operated by the Australian telecom firm. Ooyala executive and management team will remain intact and Ooyala’s headquarters will be in Silicon Valley.

Ooyala will also continue to serve its existing clients of movie studios, cable networks, and other distributors who are looking for ways to make their videos available online and also through tablet and mobile application. Ooyala’s customer list includes big names such as Telefonica, Univision, Telegraph Media Group, Comedy Central, ESPN, NBC Universal and Telstra.

With this acquisition, Ooyala isn’t the first or the only video distribution platform to live under a big corporate parent such as Telstra. Comcast purchased ThePlatform in 2006 and it continues to serve the needs of big distributors and cable networks. Moreover, being part of a larger entity could help Ooyala to grow and thrive in a competitive marketplace.

Brightcove, the competitor of Ooyala, went public two years ago and in this process it raised $55 million. However since then shares of Brightcove have fluctuated and are now around half off their original listing price.

For Telstra, the acquisition of Ooyala helps it offer new services to business customers as part of its newly launched GAP (Global Applications and Platforms) business.

The acquisition comes as the Australian telecom giant continues to look to expand its business outside its traditional business and reinvent itself as a multimedia company. Ooyala also provides cloud-based personalized video platform services to media companies such as NBC Universal, ESPN and News Corporation. According to sources, Ooyala’s forecasted revenues for 2014 are $65 million.

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