The deal includes Ooyala's video content management and publishing platform Backlot, Analytics, Live, and the underlying IP and associated patents, along with "substantial portions" of Ooyala's engineering, support, and sales staff, including the Guadalajara, Mexico, operations.
Brightcove intends to continue all of Ooyala's OVP relationships with customers, resellers and partners.
"This transaction, which includes immediately growing our highly skilled and committed global workforce, accelerates our ability to deliver faster innovation and deeper support for all customers. We also will increase our market reach and further strengthen our ability to secure new business in key target markets. We look forward to welcoming Ooyala's OVP customers and ensuring a smooth transition and a world-class experience for them."
Over the past 15 years, Brightcove has developed an online video platform with solutions supporting media, entertainment, marketing, and enterprise spaces. Aspects of Ooyala's technology will be integrated into the Brightcove platform to provide a more robust global offering for all customers.
"We hold our customers' success as paramount. Selecting Brightcove further demonstrates this commitment and ensures they will receive a world-class experience," said Ooyala chief executive Jonathan Huberman.
"Brightcove is doing amazing things in the OVP market, and we are pleased our customers will work directly with the market leader."
The transaction is expected to close in the first half of 2019. Financial terms were not disclosed.
A year ago, then-owner Telstra wrote down the value of Ooyala by $273 million, and subsequently Ooyala was the subject of a management buyout.