IBM on Thursday announced the acquisition of video streaming service Ustream for an undisclosed sum.
The deal will add cloud-based live video — which IBM estimates to be a $105 billion opportunity — to the company's cloud platform for businesses.
Braxton Jarratt will lead the new IBM Cloud Video Services unit, which will also include internal research and development projects and previous acquisitions of cloud-based video company Clearleap, storage software provider Cleversafe and file transfer company Aspera.
IBM officials said that the new unit will allow easy access to live and on-demand video, digital and visual analytics and management and language capabilities.
“Through this latest acquisition and the creation of a new cloud business unit, IBM will provide an end-to-end suite of digital video solutions for the first time under one roof,” Jarratt said.
Ustream's live and on-demand video reaches some 80 million viewers per month and includes customers such as NASA, Samsung, Facebook, Nike and The Discovery Channel.