BOSTON, Mass. (January 31, 2014) – Brightcove Inc. (NASDAQ: BCOV), a leading global provider of cloud services for video, today announced it has completed its acquisition of Unicorn Media, a leading provider of cloud video ad insertion technology. On January 6, 2014, Brightcove announced the signing of its definitive agreement to acquire Unicorn Media for approximately $49 million. Under the terms of the agreement, the purchase price consists of 2,850,547 shares of Brightcove stock and approximately $9.1 million of cash used to pay transaction and other expenses of Unicorn Media.
Unicorn Media has pioneered an innovative cloud-based ad insertion and video stitching service called Once, which addresses the limitations of traditional online video ad technology. Unicorn’s Once service reduces or eliminates the need for platform-specific ad technology and makes it possible for digital media companies to reliably deliver live or on-demand video with dynamically customized programming and targeted advertising to the maximum range of devices.
David Mendels, Chief Executive Officer of Brightcove, commented, "We are excited to welcome the Unicorn Media team to Brightcove. We believe its innovative cloud-based ad insertion technology and our industry-leading Video Cloud platform will enable a dramatic improvement in the targeting, personalization and monetization of the rapidly increasing amount of online video content being delivered by digital media companies."
Brightcove will rebrand the Unicorn Media product line as Brightcove Once and will continue to develop, operate and support the service while also integrating the technology with other Brightcove services. The combined company will be able to offer top media properties unmatched audience reach, monetization potential, and consumer experience for their online video initiatives.
Brightcove Inc. (NASDAQ: BCOV), a leading global provider of cloud services for video, offers a family of products that revolutionize the way organizations deliver video experiences. The company's products include Video Cloud, the market-leading online video platform and Zencoder, a leading cloud-based media processing service and HTML5 video player technology provider. Brightcove has more than 6,300 customers in over 70 countries that rely on Brightcove cloud content services to build and operate video experiences across PCs, smartphones, tablets and connected TVs. For more information, visit http://www.brightcove.com.
Forward Looking Statements
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ICR for Brightcove
Brian Denyeau, 646-277-1251
Kristin Leighton, 617-245-5094