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Verizon is buying Intel Media

Verizon is buying Intel Media

Verizon Communications on Tuesday agreed to acquire Intel Media, a business division dedicated to the development of Cloud TV products and services. The US carrier will incorporate the Intel-developed technologies into its next-generation video services through the Verizon FiOS fibre optic network and over the top to any device, including via LTE.

Verizon will purchase intellectual property rights and other assets belonging to Intel’s OnCue Cloud TV platform, as well as making employment offers to the approximately 350-person Intel unit, based in Santa Clara.

Lowell McAdam, chairman and CEO of Verizon, said: “The OnCue platform and team will help Verizon bring next-generation video services to audiences who increasingly expect to view content when, where and how they want it. Verizon already has extensive video content relationships, fixed and wireless delivery networks, and customer relationships in both the home and on mobile. This transaction provides us with the capabilities to build a powerful, capitally efficient engine for future growth and innovation. We will have the opportunity to enhance, expand, accelerate and integrate our delivery of video products and services to better serve audiences on a wide array of devices.”

In December, Verizon announced plans to acquire content delivery network, EdgeCast. Prior to that, the company announced the acquisition of technology from upLynk, that streamlines the process of uploading and encoding of video for live, linear and video-on-demand content.

Terms of the Intel Media transaction were not disclosed.

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