IBM continues to bolster its cloud technology portfolio.
The Armonk, N.Y.-based tech giant said Tuesday that it had acquired cloud video provider Clearleap. The Duluth, Geo. firm developed a platform for online video services for HBO, the NFL, Verizon and other content providers.
“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,” said IBM Cloud senior vice president Robert LeBlanc 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.”
Video has become a growing part of the data that IBM customers need managed. Clearleap’s technology will become part of IBM’s Cloud platform to make it easier to deliver and monetize video online and on mobile devices, the company says.
The acquisition also helps IBM in its attempt to address the “dark data” dilemma. Computer systems are unable to handle about 80% of the world’s data, and much of that is video, IBM says.
Terms of the deal were not released. IBM (IBM) shares were down about 1% to $138.93.
Last month, IBM acquired software developer Cleversafe, which creates tools for the storage and management of such unstructured data. Coupled with its 2014 acquisition Aspera and Clearleap, IBM says it plans to make it easier for customers to store, index and retrieve video content in the cloud.
“With consumer demand for video growing exponentially, the business of creating compelling and personalized video experiences is booming,” said Clearleap CEO Braxton Jarratt 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.”