IBM has confirmed on Thursday acquiring live video streaming platform UStream. The computer giant has reportedly acquired several cloud video service units in a row. Now it announces developing a new cloud video services unit of its own, as well.
The UStream purchase has been believed to be made at a price of $130 million, but pegged not more than $150 million in cash. The deals also includes an undisclosed amount of earn-outs and employee retention payments.
However, IBM hasn't revealed anything detail on the acquisition deal. The deal enables all Senior executives of UStream's have found position in IBM, reports Tech Crunch.
UStream provides cloud- based video streaming to enterprises and broadcasters covering corporate keynotes to live music concerts. It streams live and on demand video to about 80 million viewers per month. It serves customers like NASA, Samsung, Facebook, Nike and The Discovery Channel, describes a press release furnished in the IBM website on Jan 21. UStream now becomes a part of the IBM enterprise of Cloud Video Services. Braxton Jarrat, former CEO of Clearleap (also an IBM acquired entity since last month) has been named as General Manager and In-charge. Other groups merged into the unit include Cleversafe (acquired last October) and Aspera (acquired in 2013), according to a report published in Fortune. With the acquisition, UStream joins IBM's cloud service unit and thus gets the opportunity to combine assets from the latter's R&D labs and strategic acquisitions. IBM now intends to deliver powerful portfolio of video services. The dreamt video service spans open API development, digital and visual analytics, simplified management and consistent delivery across global industries. IBM itself has been developing video and digital media technologies since long. It has been awarded more than 1000 patents in areas such as analytics, indexing and searching of videos and digital images. The tech giant has also been awarded four Emmy awards for video related innovations. UStream headquarters in San Francisco with a development office in Budapest, Hungary. Its data centers are located in San Jose of California, Amsterdam and Tokyo. However, the IBM press release cautions the reader about its right for changing or withdrawing the future planning without notice, at the end. The inconclusive statement leaves many unanswered questions behind. IBM has been reported to purchase different video streaming platforms since long. On Thursday, it has announced purchasing another such unit, UStream and narrates intentions for developing own cloud video service unit. Details of the financial deal remains undisclosed, but are assumed to be within a range of $130 million to $150 million in cash and other additives. IBM's new cloud video unit will be led by Braxton Jarrat, former CEO for Clearleap, also an IBM acquired entity.
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