AT&T Acquiring Quickplay Media16 May, 2016 By: Erik Gruenwedel
Telecom will use longtime streaming tech company for its planned DirecTV OTT ventures
Seeking to enhance its over-the-top video ambitions, AT&T May 16 announced it is acquiring Quickplay Media from Chicago-based private equity investment firm Madison Dearborn Partners. Financial terms of the deal, which is expected to close this summer following regulatory approval, were not disclosed. Dearborn Partners acquired Quickplay in 2012 for $100 million.
AT&T, which last year acquired DirecTV for $50 billion, plans to incorporate Quickplay’s OTT video and TV Everywhere technology into branded DirecTV subscription streaming services: DirecTV Now, DirecTV Mobile and DirecTV Preview. These new plans will let viewers stream DirecTV content over the Internet to virtually any device.
“Quickplay's multi-tenant IP distribution infrastructure, combined with AT&T's 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,” AT&T CEO John Stankey said in a statement.
AT&T plans to retain Quickplay’s 350-employee global workforce and contractors. The company, which is based in Toronto, will continue to operate as a standalone business seeking third-party contracts.
"With AT&T, we’ll have the resources we need to further scale, grow the business, and continuously enhance that platform,” said Wayne Purboo, founder and CEO of Quickplay.
Quickplay in 2011 joined the Digital Entertainment Content Ecosystem, otherwise known as cloud-based UltraViolet.