AT&T announced plans to acquire Quickplay Media, which already supports its over-the-top video and TV Everywhere services, as well as the DirecTV offerings it plans to launch later this year.
The operator acquired satellite TV operator DirecTV in July last year for $48.5 billion and plans to offer three options for streaming content in the fourth quarter. DirecTV Now, DirecTV Mobile and DirecTV Preview will let viewers stream content over the internet to any device.
Quickplay’s platform already supports AT&T’s U-verse TV Everywhere offering.
The firm reportedly raised more than $180 million since launching in 2003 and was bought by private equity investment firm Madison Dearborn Partners in 2012 for around $100 million.
Terms of the AT&T acquisition were not disclosed.
“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,” said John Stankey, CEO, AT&T Entertainment Group.
He added that the operator’s strategy is to deliver video content “however, whenever and wherever,” and that it intends to scale and operate an “industry-leading video distribution platform” so viewers can get a high-quality online video viewing experience.
Wayne Purboo, founder and CEO at Quickplay, believes the acquisition will give his firm the resources to “further scale, grow the business, and continuously enhance” its platform and “power the next generation of video services.”
AT&T plans to retain Quickplay’s 350 employees and contractors and wants it to function as a standalone business, confirming that it will “continue to expand its global customer base” and “grow its managed platform services.”
The transaction is subject to regulatory approvals and the deal is expected to close in mid-2016.