Brightcove Inc. (NASDAQ: BCOV), the global leader of video for business, today announced it will acquire HapYak technology (a long-time partner) from Newsela, a leading K-12 instructional content platform, to help advance video interactivity.
With the integration of the HapYak technology, Brightcove users can quickly and easily incorporate interactivity into virtually any video, including clickable hotspots, quizzes, shopping cart purchases, personalization, choose-your-own adventure paths, and a variety of calls to action (e.g., buy now, subscribe, download). The technology will also enable marketers, HR, corporate training departments, and sales teams to track viewer actions and sentiment and to personalize customer journeys in entirely new ways.
“Video delivers content in the most powerful way, and adding interactivity dramatically enhances viewer engagement, on-boards employees more effectively, inspires stronger passions, and closes more sales faster,” said Namita Dhallan, Chief Product Officer, Brightcove. “Interactivity also generates valuable data-driven insights for businesses that can guide new interactions based on viewers’ previous behaviors.”
Brightcove and HapYak have maintained a strong technology partnership since 2013, working jointly with customers like Sotheby’s and TN Marketing, to deliver exceptional interactive video experiences “securely.”
Upon consummation of the acquisition, Brightcove will acquire HapYak’s commercial interactivity technology brand and certain marketing assets. Brightcove also expects to acquire HapYak’s customer relationships globally. The closing of the acquisition is subject to customary closing conditions and is expected to occur in Q4 2021.
Brightcove’s Emmy award-winning online video platform enables publishers, entertainment companies, enterprises, marketers, sports organizations, and others to securely and reliably manage, deliver, optimize, and monetize live and on-demand broadcast-quality video to millions of concurrent users on any device and website.
“Our customers have experienced the value of interactive video as a foundation of their success,” said Kyle Morton, founder of HapYak. “We believe Brightcove will further ensure they receive superior technology and support experience. Brightcove’s video platform is demonstrated to be secure, reliable, and scalable, and we are happy our customers will continue to work directly with the market leader.”
About Brightcove Inc.
Brightcove creates the world’s most reliable, scalable, and secure video technology solutions to build a greater connection between companies and their audiences, no matter where they are or on which devices they consume content. In more than 70 countries, Brightcove’s intelligent video platform enables businesses to sell to customers more effectively, media leaders to stream and monetize content more reliably, and every organization to communicate with team members more powerfully. With two Technology and Engineering Emmy® Awards for innovation, uptime that consistently leads the industry, and unmatched scalability, we continuously push the boundaries of what video can do. Follow Brightcove on Twitter, LinkedIn, and Facebook. Visit www.brightcove.com. Brightcove. Video that means business™.
Newsela takes authentic, real world content from trusted sources and makes it instruction ready for K-12 classrooms. Each text is published at five reading levels, so content is accessible to every learner. Today, over 3.3 million teachers and 40.9 million students have registered with Newsela for content that’s personalized to student interests, accessible to everyone, aligned to instructional standards, and attached to activities and reporting that hold teachers accountable for instruction and students accountable for their work. With over 15,000 texts on our platform and 10 new texts published every day across 20+ genres, Newsela enables educators to go deep on any subject they choose.
For more information about Newsela or to join the team, visit Newsela.com.
This press release includes certain “forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements concerning our position to execute on our growth strategy, the closing of the acquisition of HapYak and the successful integration of HapYak's technology, business and customers, and our ability to expand our leadership position and market opportunity. These forward-looking statements include, but are not limited to, plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts and statements identified by words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" or words of similar meaning. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies,,, and prospects, which are based on the information currently available to us and on assumptions we have made. Although we believe that our plans, intentions, expectations, strategies and prospects as reflected in or suggested by those forward-looking statements are reasonable, we can give no assurance that the plans, intentions, expectations or strategies will be attained or achieved. Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond our control including, without limitation: risks associated with the successful completion of the acquisition of HapYak's technology, business and customers, difficulties integrating the HapYak technology, products, operations and contracts and realizing the anticipated benefits of the acquisition; the effect of the COVID-19 pandemic, including on our business operations, as well as its impact on the general economic and financial market conditions; our ability to retain existing customers and acquire new ones; our history of losses; expectations regarding the widespread adoption of customer demand for our products; the effects of increased competition and commoditization of services we offer, including data delivery and storage; keeping up with the rapid technological change required to remain competitive in our industry; our ability to manage our growth effectively and successfully recruit additional highly-qualified personnel; the price volatility of our common stock; and other risks set forth under the caption "Risk Factors" in our most recently filed Annual Report on Form 10-K and our other SEC filings. We assume no obligation to update any forward-looking statements contained in this document as a result of new information, future events, or otherwise.