The two companies have not disclosed the financial details of the acquisition yet
Published By:
Patrick Arruda
on July 8, 2016 10:37 am EST
Alphabet Inc. (NASDAQ:GOOGL) seems to be stepping up its game in the online video segment. The company announced today that it has acquired Anvato. The financial details of the acquisition are yet to be disclosed though.
Anvato is going to become a part of the Google Cloud Platform team. Under terms of the agreement between both the companies, Anvato will offer its highly-advanced video processing technology to pay TV operators, broadcasters, and live event coordinators on the Google cloud platform.
“We are grateful to our media and entertainment customers — NBCUniversal, Univision, Scripps Networks, Fox Sports, Media General, just to name a few — who have not only fueled our growth but also trusted our technology to power their core business,” read Anvato’s official press release. Anvato aims to leverage on the huge scale and resources offered by Google Cloud Platform in order to provide consumers with industry-leading solutions for OTT and mobile video. Anvato management is of the opinion that with Google’s huge set of resources at its disposal, the company can significantly increase the speed of its innovation and bring enhanced experience which media companies can use to serve their consumers.
In other news, Android co-founder Rich Miner, who is also a general partner at Google Ventures, intends to deliver an educational project through Google. According to an earlier Fortune report, as part of the program, Mr.Miner would not remain a general partner of Google Ventures. The project is said to be currently in the embryonic stage, with Mr. Miner commenting that he himself at present is unaware of the specifics of the venture. « Just like Android took us our years to get the first device out and I helped create WildFire 25 years ago as a voice-based personal assistant, which is just now starting to happen. This vision is another big idea, but it will take time, » he said in his interview to Fortune.
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