Australian telecom operator Telstra has increased its stake in Ooyala, a video streaming and analytics vendor, to 98 percent from 23 percent for $270 million.
Earlier, Telstra invested $61 million in Ooyala over the past two years.
Ooyala will operate as an independent business under the leadership of its existing management team led by chief executive officer Jay Fulcher. The company will retain the Ooyala brand and will continue to be headquartered in Silicon Valley.
Telstra will make investments and business relationships to build on Ooyala’s leadership in personalized cloud TV and video technology.
Telstra Chief Executive Officer David Thodey said that this provides an opportunity for Telstra and Ooyala to establish a consolidated leading global company to deliver platforms and services on which the next generation of TV and video will be built.
Some of the clients of Ooyala include ESPN, Foxtel and Univision.
Ooyala will now look to scale its operations worldwide for cloud-based video solutions that enable personalized multi-screen television for mass audiences.
