Brightcove acquires Unicorn Media
January 6, 2014
Brightcove, a global provider of cloud services for video, 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 $14 price per share of Brightcove common stock as specified in the purchase agreement, the transaction is valued at approximately $49 million. Under the terms of the agreement, the purchase price consists of approximately 2.9 million shares of Brightcove stock and approximately $9 million of cash used to pay transaction and other expenses of Unicorn Media.
“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,” said David Mendels, Chief Executive Officer of Brightcove. “However, media companies are struggling to effectively deliver ad-supported video content to a fragmented landscape of platforms, including mobile devices, set top boxes, connected living room devices, and a growing number of PCs that have ad-blockers installed. Through the acquisition of Unicorn Media, Brightcove will empower media companies to address these challenges by offering the most comprehensive suite of cloud services for delivering and monetising online video content to the broadest range of devices.”