AT&T Acquiring Quickplay to Support Upcoming Video Services
Strengthening its online video operations, AT&T announced that it will acquire over-the-top (OTT) and TV Everywhere video distribution company Quickplay Media for an undisclosed amount. Madison Dearborn Partners is the current owner, having purchased Quickplay for $100 million in 2012. AT&T expects to close the deal in mid-2016.
AT&T has a history with Quickplay, as it currently uses the company to stream U-verse TV Everywhere. Once the acquisition is completed, AT&T will use Quickplay to stream three new offerings—DirecTV Now (which will offer a range of pay TV packages for streaming delivery), DirecTV Mobile (a smartphone-based premium video offering), and DirecTV Preview (an ad-supported free service with limited offerings)—which will all debut in the fourth quarter of 2016.
“Quickplay's multitenant IP distribution infrastructure, combined with AT&T's leading scale in IP connected end points, will allow us to host and distribute all forms of video traffic," says John Stankey, CEO of AT&T Entertainment Group. "We intend to scale and operate an industry-leading video distribution platform, and viewers will get the high-quality online video viewing experience they desire."
Quickplay currently has over 350 employees, all of whom will stay in place post-acquisition. Stankey notes that Quickplay's "talented team of people" is essential for AT&T's success. As the new owner, AT&T will grow Quickplay's managed platform services. Quickplay will continue to power other video providers and content distributors. The company has offices in North America and Asia.
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