Wednesday, January 22, 2014

Verizon ramps up TV, buys Intel Medias OnCue

Verizon announced Tuesday its agreement to purchase the assets of Intel Media, a division of Intel dedicated to the development of cloud TV products and services that includes the OnCue Cloud TV platform. Financial terms were not disclosed, and although the deal has to pass through regulatory screenings, it’s expected to be closed by the end of Q1 2014. From the industies perspected, OnCue was a long shot for Intel. Headed by Intel Media VP Erik Huggers, it was definitely one of those try-it-and-see-how-it-goes sort of endeavors. According to sources at Verizon, they are aquiring all of Intel Media, including their 350 employees, intellectual property rights, and other assets. "The OnCue platform and team will help Verizon bring next-generation video services to audiences who increasingly expect to view content when, where and how they want it," said Verizon CEO Lowell McAdam.

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