Ustream provides cloud-based video streaming to enterprises and broadcasters for everything from corporate keynotes to live music concerts. The company streams live and on-demand video to about 80 million viewers per month for customers such as NASA, Samsung, Facebook, Nike and The Discovery Channel.
Ustream joins the newly-formed IBM Cloud Video Services unit that combines assets from IBM's R&D labs and strategic acquisitions. IBM will deliver a powerful portfolio of video services that spans open API development, digital and visual analytics, simplified management and consistent delivery across global industries.
The unit will be led by General Manager, Braxton Jarratt, and will target the $105 billion opportunity in cloud-based video services and software, according to IBM estimates.
“I’m excited to announce the acquisition of Ustream by IBM. This partnership was a natural choice as IBM is expanding its video portfolio offerings and Ustream has distinguished itself as a leader in video solutions for media and enterprises”, said Brad Hunstabl, Founder and CEO, Ustream, in a blog post.