TechCrunch
Streaming video distribution and monetization platform Ooyala is being acquired by Australian telco Telstra, which will invest $270 million to reach a 98 percent ownership stake in the company. This is up from the 23 percent it owned through a previous investment round.
According to the press release that just dropped, Ooyala will be operated as a wholly owned subsidiary of the Australian telecom firm. As such, its management and exec team will stay intact, and it will continue to be headquartered in Silicon Valley.
Ooyala will also continue to serve its existing clients of cable networks, movie studios, and other distributors who are looking for ways to make their videos available online and through mobile and tablet apps. Its customer list includes names like Univision, Comedy Central, NBC Universal, Telstra, ESPN, Telegraph Media Group, and Telefonica, among others.
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