AT&T plans to buy Toronto’s Quickplay Media.
Quickplay, which enables consumers to watch video content across mobile devices, has more than 350 employees and contractors, all of which will be retained according to AT&T.
AT&T did not disclose the acquisition price. In 2012, a majority stake in Quickplay was bought by private equity firm Madison Dearborn Partners for $100 million, and since then the company has been considered among Canada’s fastest-growing firms.
“Our strategy is to deliver video content however, whenever and wherever,” said John Stankey, CEO, AT&T Entertainment Group. “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.”
“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,” he added.
“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,” said Wayne Purboo, founder and CEO, Quickplay.
“This combination will help us power the next generation of video services,” he added.
The transaction remains subject to regulatory approval in both Canada and the US.