BOSTON--(BUSINESS WIRE)--
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.
About Brightcove
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
This press release may include forward-looking statements regarding
anticipated objectives, growth and/or expected product and service
developments or enhancements. Such forward-looking statements may be
identified by the use of the following words (among others): "believes,"
"expects," "may," "will," "plan," "should" or "anticipates," or
comparable words and their negatives. These forward-looking statements
are not guarantees but are subject to risks and uncertainties that could
cause actual results to differ materially from the expectations
contained in these statements. For a discussion of such risks and
uncertainties, see "Risk Factors" in the Company's filings with the
Securities and Exchange Commission, including its most recent annual
report on Form 10-K. Brightcove assumes no obligation to update any
forward-looking statements contained in this press release in the event
of changing circumstances or otherwise, and such statements are current
only as of the date they are made.
Investor Contact:
ICR for Brightcove
Brian Denyeau,
646-277-1251
brian.denyeau@icrinc.com
or
Media
Contact:
Brightcove Inc.
Kristin Leighton, 617-245-5094
kleighton@brightcove.com
Source: Brightcove Inc.
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