Canada’s QuickPlay Media, a provider of managed services for the delivery of premium video to IP-connected devices, has sold a significant slice of its business to a US private equity firm in return for US$ 100mn, which will help drive its expansion in Europe and other international markets.
Chicago-based private equity firm Madison Dearborn and QuickPlay’s employees now own almost all of the eight-year-old company, along with a limited number of minority shareholders, including Toronto-based Difference Capital.
QuickPlay Media has quickly established itself as a leading provider of managed services for the delivery of premium video to IP-connected devices in the US and Canada, working with the likes of AT&T, SIRIUS XM Radio, RIM, Samsung and Verizon.
In June 2011, QuickPlay acquired the network operations centre assets of FLO TV from Qualcomm Incorporated as part of its US expansion, broadening its abilities for managing on-demand content and live TV coverage of major sporting and news events for customers worldwide.
The company’s cloud-based OpenVideo platform currently manages more than 1.5mn content assets across more than 3,000 content providers, delivering video to more than 300 different device family profiles.