IBM announced today that it’s acquired Ustream, a video streaming service, to bolster its existing “portfolio of video services.”
With this deal, IBM is creating a new business unit called Cloud Video Services.
News of the acquisition broke yesterday, when Fortune wrote that IBM paid $130 million for the company. IBM confirmed the deal today but declined to comment on the price.
This deal follows IBM’s acquisition of Clearleap in December. At the time, IBM also said the Clearleap deal would help it “advance” its cloud video services. Both of these acquisitions are reminiscent of Amazon’s Elemental Technologies deal; Amazon bought the video processing company in September to enhance its massive public cloud, AWS.
AI Weekly
The must-read newsletter for AI and Big Data industry written by Khari Johnson, Kyle Wiggers, and Seth Colaner.
Included with VentureBeat Insider and VentureBeat VIP memberships.
In a call with VentureBeat, IBM’s Steve Canepa — the general manager of global media at the company — cited a number of applications for the new unit, including services designed around the rise of online education and police body cameras.
Updated 8:26 a.m. PT with additional details and comment from IBM.
VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Learn More