Telstra has completed its US$270 million acquisition of 98 per cent of video streaming and analytics company Ooyala.
Telstra already had a 23 per cent stake in the company when it announced the acquisition in August.
Telstra initially invested in Ooyala in 2012 and prior to acquisition had invested US$61 million in the video company.
The Silicon Valley-headquartered company has a video platform that can deliver personalised content to viewers and analyse consumer behaviour.
“Ooyala delivers a personalised video platform as an end-to-end cloud solution service, which saves customers high upfront investments in online video infrastructure and helps increase the return on their content,” Telstra CEO David Thodey said in a statement when the acquisition was announced.
"Ooyala makes it possible for media companies like Foxtel and ESPN to stream their video content over the internet to devices like smart-phones, tablets and smart TVs," Charlotte Yarkoni, Telstra executive director global applications and platforms, wrote in a blog entry in August.
"They help us watch what we want, when we want and on whatever device we want. This is changing the way we watch TV – including letting me watch Monday night football at my convenience on a Tuesday night in Australia without needing to pre-record it."
Ooyala will continue to be led by the company’s current CEO, Jay Fulcher.
The company “will operate as an independent business, retaining its brand, structure and management under the Telstra Software Group,” Telstra said in an ASX statement issued today.