US video hosting firm Brightcove adds Unicorn Media in $49M deal
Video cloud services company Brightcove has acquired ad-insertion technology from Unicorn Media in a deal valued at $49 million. The purchase will allow media companies to deliver ad-supported video content in an easier way, according to Mumbrella.
Mark Blair, Brightcove for Australia and New Zealand's vice president, said that the purchase of Unicorn Media's assets will help TV programmers and broadcasters distribute personalized ads to their viewers, the report stated.
Brighcove, a US-based company, has operated in Sydney for more than three years. The firm's Australian clients include Mi9 and Network Ten, the report said.
Through the said transaction, Brightcove will assume the cloud-based video ad-insertion technology assets of Unicorn Media. In addition, the latter's video stitching service called Once will be renamed Brightcove Once, Mumbrella reported.
In a statement, Brightcove global Chief Executive Officer David Mendels said: "We believe that online video has the potential to surpass traditional TV by offering mass personalisation, superior ad targeting, and frictionless distribution to more screens in more locations."