AT&T has long maintained it can DIY it's over-the-top ambitions -- mostly -- but apparently, not anymore.
The telco today announced it is acquiring Quickplay, a Canadian OVP owned by Madison Dearborn Partners that has seen moderate success in Asia and elsewhere, most notably being the launch partner for Netflix competitor HOOQ.
Quickplay already supports U-verse TV everywhere offerings and is working with DirecTV's OTT initiatives – DirecTV Now, DirecTV Mobile and DirecTV Preview – that will roll out later this year. All of which will let viewers stream DirecTV content over the Internet to virtually any device, all of which will let viewers stream DirecTV content over the Internet to virtually any device.
“Our strategy is to deliver video content however, whenever and wherever,” said John Stankey, CEO, AT&T Entertainment Group. “Quickplay's multitenant IP distribution infrastructure, combined with AT&T's leading scale in IP connected end points, will allow us to host and distribute all forms of video traffic. We intend to scale and operate an industry-leading video distribution platform, and viewers will get the high-quality online video viewing experience they desire."
No terms were released, but all 350 Quickplay employees will now work for AT&T.
AT&T said it expects Quickplay to maintain its current customers.
The transaction is subject to pre-merger review under the Hart-Scott-Rodino Act in the U.S. and the Competition Act in Canada and to other customary filings and approvals. AT&T and Quickplay expect to close the deal in mid-2016.
Quickplay a year ago secured $57 million (Canadian) in growth capital from private equity owner Madison Dearborn Partners, financing partner Orix Ventures and Difference Capital Financial. Since its 2003 launch, the privately held company has raised more than $150 million in funding
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