As part of a push to expand its ability to deliver live events, linear television and video on demand, Verizon Digital Media Services has acquired upLynk, a technology and television cloud company.
Terms of the deal were not disclosed.
Verizon Digital Media Services offers a suite of end-to-end video solutions for TV Everywhere and over-the-top video.
Verizon cited upLynk's exclusive technology for simplifying the complex issues content owners face in delivering TV Everywhere live, linear and VOD content as a key reason for the acquisition.
The tech company uses a single adaptive video format across all devices to simplify encoding, storage, playback, ad insertion and analytics in a way that streamlines workflows.
"As the experience of watching broadcast television changes and the media marketplace shifts, the addition of upLynk's unique capabilities allows Verizon Digital Media Services to better meet our customers where and how they want to deliver video," said Bob Toohey, president of Verizon Digital Media Services. "Simply put, this acquisition provides intelligent, scalable and more flexible ways of streaming video for our customers."
In a statement announcing the deal, upLynk CEO Ralf Jacob added that the agreement "a turning point for upLynk and we see incredible opportunity to deliver superior video solutions that streamline the complex challenges that content owners face."
As a result of the acquisition, Verizon Digital Media Services' customers will be able to take advantage of "increased speed to market, simplified workflows and access to a highly efficient and data-rich broadcast cloud technology that leverages Verizon's video platform and global network," the two companies noted.