Report: IBM could buy UStream for $130 mln
U.S.-based firm IBM is in talks with live video service provider UStream, founded in Hungary, to acquire its live video platform, Fortuneʼs news portal reported yesterday, citing several sources familiar with the deal.
According to Fortune, the acquisition is expected to be valued at approximately “$130 million in cash, plus possible earn-outs and employee retention packages”.
The online daily noted that IBM and UStream first became acquainted in April 2014, when UStream was the online streaming video service in the launch of IBM’s cloud marketplace.
“Silicon Valley-based Ustream has raised nearly $50 million in venture capital … Investors include DCM, Eastward Capital Partners, Labrador Ventures, KT Corp., SoftTech VC, SoftBank, Recruit Strategic Partners, Wasabi Ventures, and Western Technology Investment ”, Fortune reported.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.