IBM buys video streaming company Ustream
IBM Corp. acquired cloud-based video streaming company Ustream Inc. on Thursday to boost its video offerings for corporate clients using IBM's cloud suite. Financial terms of the deal were not disclosed. Ustream has provided the infrastructure to power live streams and on-demand video content from major content creators, including Facebook and The Discovery Channel. IBM said the company will help support the growing demand among businesses of producing video content for things such as marketing, presentations and webinars. Ustream will join IBM's newly-formed cloud video services segment, led by IBM general manager Braxton Jarratt. Shares of IBM increased 2% to $124.46 in recent trade, though they are down 12% over the last three months, versus a 7% decline for the Dow Jones Industrial Average.
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