U.S.-based IBM yesterday announced the acquisition of Hungarian-founded video streaming service UStream, Inc., according to a press statement issued by the American company. The financial terms of the deal were not disclosed.
IBM said the acquisition will extend the IBM Cloud platform to help enterprise clients unlock the value of video, a rapidly-evolving digital media and data asset.
“Video has become a first-class data type in business that requires accelerated performance and powerful analytics that allows clients to extract meaningful insights,” said Robert LeBlanc, Senior Vice President, IBM Cloud. “Aligning our expansive video and cloud innovations into an integrated unit will create opportunities for clients to take advantage of this medium in the most strategic way possible”, the professional added.
“Video is the most powerful and emotional medium,” said Brad Hunstable, CEO of Ustream commenting on the acquisition. “Increasingly it is becoming the favored form of communication, not just for entertainment, but also for business. We’ve built a video platform that is easy-to-use, yet incredibly scalable, secure and powerful and it is these qualities that made us an ideal addition to IBM’s portfolio.”