Ottawa-based startup You.i TV, a software company that assists streaming services to present their programming across multiple platforms, has been acquired by media giant WarnerMedia.
Light Reading first reported that WarnerMedia, the media division of AT&T, was close to a deal on December 3. The Globe and Mail revealed on December 17 that the acquisition was about to be announced for more than $100 million USD. The price of the acquisition has not been released.
“The You.i Engine One technology, and the development teams behind it, are best-in-class.”
Founded in 2009, the startup’s You.i Engine allows brand owners to build a customized platform across mobile devices, set-top boxes, consoles, and streaming devices from a single code base. In 2016, You.i raised a $12 million Series B led by Time Warner Investments, and in 2018, closed $30 million CAD ($23 million USD) in growth capital.
“The You.i Engine One technology, and the development teams behind it, are best-in-class,” said Jason Press, WarnerMedia executive vice president of direct-to-consumer technology & program management. “The You.i platform will enhance the HBO Max technology stack, increase developer efficiency, and accelerate delivery as we bring HBO Max to consumer devices all around the world.”
The You.i Engine One technology is expected to help deploy WarnerMedia’s HBO Max direct-to-consumer offering to a variety of platforms in global markets. HBO MAX is slated to expand into Latin America in 2021, while HBO branded streaming services in Europe will begin upgrading to HBO Max.
WarnerMedia and other affiliates of AT&T currently utilize You.i TV technology to enable apps for AT&T TV Now, TNT, TBS, truTV, B/R Live, Rooster Teeth, DIRECTV GO in Latin America, WarnerMedia International, and the WarnerMedia RIDE in-car entertainment experience in partnership with AT&T and General Motors.
In July, You.i TV received $3.1 million CAD in funding from the Government of Canada through FedDev Ontario. The funding was marked for the startup to adapt its products and expand its market reach. The government stated it expected the funding to create 55 skilled jobs.
Originally published on BetaKit : Original article