AT&T Inc (NYSE: T) has closed its acquisition of Quickplay Media Inc, a Canadian portfolio company of U.S. private equity firm Madison Dearborn Partners. No financial terms were disclosed for the deal, which was announced in May. Toronto-based Quickplay, a managed video platform that powers video over all networks and devices, was acquired by Madison Dearborn for US$100 million in July 2012. The company also received funding from Orix Ventures and Difference Capital Financial.
AT&T Completes Acquisition of Quickplay
June 28, 2016
DALLAS–(BUSINESS WIRE)–AT&T* has completed its acquisition of Quickplay Media, Inc. from Madison Dearborn Partners. The deal complements AT&T’s strategy to deliver video content wherever and whenever viewers want it by adding a leader in powering over-the-top (OTT) video and TV Everywhere services to AT&T’s portfolio.
Quickplay is the current platform provider for AT&T’s U-verse TV Everywhere offering. The platform will support the streaming offers — DIRECTV Now, DIRECTV Mobile and DIRECTV Preview — that AT&T plans to introduce later this year. These new plans will let viewers stream DIRECTV content over the Internet to virtually any device.
Quickplay will also continue to support and expand its global customer base, grow its managed platform services and continue to enable other companies — from video providers to content distributors — to deliver premium video to any device and over any network.
AT&T plans to retain Quickplay’s team of more than 350 employees and contractors. Their knowledge and skills are critical to AT&T’s streaming video strategy.
The companies did not disclose financial terms.
*AT&T products and services are provided or offered by subsidiaries and affiliates of AT&T Inc. under the AT&T brand and not by AT&T Inc.
AT&T Inc. (NYSE:T) helps millions around the globe connect with leading entertainment, mobile, high-speed Internet and voice services. We’re the world’s largest provider of pay TV. We have TV customers in the U.S. and 11 Latin American countries. We offer the best global coverage of any U.S. wireless provider*. And we help businesses worldwide serve their customers better with our mobility and highly secure cloud solutions.
Additional information about AT&T products and services is available at http://about.att.com. Follow our news on Twitter at @ATT, on Facebook at http://www.facebook.com/att and YouTube at http://www.youtube.com/att.
© 2016 AT&T Intellectual Property. All rights reserved. AT&T, the Globe logo and other marks are trademarks and service marks of AT&T Intellectual Property and/or AT&T affiliated companies. All other marks contained herein are the property of their respective owners.
*Global coverage claim based on offering discounted voice and data roaming; LTE roaming; voice roaming; and world-capable smartphone and tablets in more countries than any other U.S. based carrier. International service required. Coverage not available in all areas. Coverage may vary per country and be limited/restricted in some countries.
About Madison Dearborn Partners
Madison Dearborn Partners (MDP), based in Chicago, is a leading private equity investment firm in the United States. Since MDP’s formation in 1992, the firm has raised seven funds with aggregate capital of over $21 billion and has completed approximately 130 investments. MDP invests in businesses across a broad spectrum of industries, including telecom, media and technology services; financial and transaction services; business and government services; health care; basic industries; and consumer. Noteworthy TMT investments include Asurion, Cbeyond, Intelsat, Liquid Web, NextG Networks, Q9 Networks and Univision. For more information, please visit www.mdcp.com.
AT&T Cautionary Language Concerning Forward-Looking Statements
Information set forth in this news release contains financial estimates and other forward-looking statements that are subject to risks and uncertainties, and actual results may differ materially. A discussion of factors that may affect future results is contained in AT&T’s filings with the Securities and Exchange Commission. AT&T disclaims any obligation to update or revise statements contained in this news release based on new information or otherwise.
AT&T Corporate Communications
Eric Ryan, 212-803-2644
Photo courtesy of Reuters/Shannon Stapleton