The US cable provider AT&T plans to obtain Quickplay to assist in the launch three new DirecTV services later this year. The company said on Monday the firm is acquiring Quickplay, a provider of internet streaming services, from private equity firm Madison Dearborn Partners, Madison Dearborn acquired a majority stake in Toronto-based Quickplay in 2012 for approximately $100 million.
Wayne Purboo, founder and CEO of Quickplay commented:
“We’ve spent more than a decade developing an advanced technology and service platform that can deliver premium video content to any device and over any network. Our solution is highly automated and scalable.
With AT&T, we’ll have the resources we need to further scale, grow the business, and continuously enhance that platform.”
In order to expand in the United States, the firm purchased Qualcomm’s Flo TV network operation center assets in 2011.
Quickplay has worked with companies including AT&T, Samsung, Sirius XM Radio and Bell in the past. Quickplay’s platform currently supports AT&T’s U-Verse TV Everywhere offering and is set to support three new services, DirecTV Now, DirecTV Mobile and DirecTV Preview, all of which are due to launch this year. Financial terms were not been disclosed however as part of the deal, AT&T will keep Quickplay’s employees and contractors who currently fill over 350 posts.
John Stankey, CEO of AT&T said the firm’s strategy is to “deliver video content however, whenever and wherever,” and so the acquisition of Quickplay and the firm’s IP distribution network will propel traffic distribution forward.
The deal is expected to close in mid-2016 and is subject to regulatory approval.