IBM announced on Tuesday that it has acquired cloud-based video services provider Clearleap. Financial terms of the deal were not disclosed.
IBM will integrate Clearleap into its IBM Cloud platform in order to offer enterprises, educational institutions and government organizations a way to “manage, monetize and grow user video experiences” while delivering them securely across devices, according to a press release. Organizations can build video into applications with Clearleap’s open API framework.
The Clearleap video platform is optimized for massive scalability, allowing clients to support millions of concurrent users within seconds, IBM said, which is critical when supporting special events. A recent report found that the cloud-based video conferencing services market could be worth $2.9 billion by 2020, which marks a clear opportunity for IBM.
“Clearleap joins IBM at a tipping point in the industry when visual information and visual communication are not just important to consumers, but are exploding across every industry,” Robert LeBlanc, Senior Vice President, IBM Cloud said in a statement. “This comes together for a client when any content can be delivered quickly and economically to any device in the most natural way.”
Clearleap’s video services will be offered through IBM Cloud data centers around the world. IBM will offer the Clearleap APIs on IBM Bluemix in 2016 for clients to easily build new video offerings.
“With consumer demand for video growing exponentially, the business of creating compelling and personalized video experiences is booming. This makes the acquisition by IBM, a global leader in technology, a perfect fit,” Braxton Jarratt, CEO of Clearleap said in a statement. “As a part of IBM, we can extend the capabilities and global reach of the Clearleap innovations to grow and scale like never before.”