The telecommunications company will lift its stake from 23 per cent to 98 per cent, paying a further $US270 million ($291 million) on top of the $US61 million it had invested over the last two years. “Ooyala is one of the industry’s fastest-growing personalised video platform companies,” Telstra chief executive David Thodey said. “The company provides solutions for customers such as broadcasters, pay-TV operators and online media sites globally.
Ooyala chief executive Jay Fulcher will continue in his current role and the business will operate independently of Telstra. “Their investment will help us accelerate our growth and cement our lead as the most innovative and forward-thinking cloud TV and video platform company in the world,” Mr Fulcher said.
Read more here: SMH