Fenwick & West represented Ooyala, Inc., one of the leaders in video streaming and analytics, in its recently announced acquisition by Telstra Corporation Limited, one of Australia’s leading telecommunications and information services company. The $270 million investment increases Telstra’s ownership in Ooyala from 23 percent (fully diluted) to 98 percent and is in addition to the $61 million previously invested in Ooyala over the past two years. This transaction is subject to customary closing conditions including the receipt of US regulatory approvals and is expected to be completed in the next 60 days.
The acquisition allows Ooyala to take their solution to the next level and thereby further accelerate its growth and help build it into a world leading personalized video platform company. More information about Ooyala’s acquisition by Telstra can be obtained from the company press release.
The Fenwick transaction team included corporate attorneys Richard Dickson, Andrew Luh, Ryan Slunaker and Nam Kim; technology transactions attorneys Stephen Gillespie and Ana Razmazma; executive compensation and employee benefits attorneys Gerald Audant, Adriana Sherwood and Kelli Newman; tax attorneys Adam Halpern, Ora Grinberg and Elnaz Manoucheri and litigation associate Jennifer Johnson.