Brightcove Inc. (NASDAQ: BCOV) said it has entered into a definitive agreement to acquire substantially all the assets of Unicorn Media, a provider of cloud video ad insertion technology.
Based on a USD14.00 price per share of Brightcove common stock as specified in the purchase agreement, the transaction is valued at approximately USD49m. Under the terms of the agreement, the purchase price consists of approximately 2.9m shares of Brightcove stock and approximately USD9.0m of cash used to pay transaction and other expenses of Unicorn Media.
Unicorn Media has pioneered an innovative cloud-based ad insertion and video stitching service called Once, which addresses the limitations of traditional online video ad technology. The Once service reduces or eliminates the need for platform-specific ad technology and makes it possible for digital media companies to reliably deliver live or on-demand video with dynamically customized programming and targeted advertising to the maximum range of devices.
Brightcove will rebrand the Unicorn Media product line as Brightcove Once and will continue to develop, operate and support the service while also integrating the technology with other Brightcove services. Unicorn Media´s headquarters in Tempe, Arizona will become the Brightcove Southwest R&D Center, joining similar centers in Boston, San Francisco and Seattle.
Brightcove, a leading global provider of cloud services for video, offers a family of products that revolutionize the way organizations deliver video experiences. For more information, visit http://www.brightcove.com.