![]() A Dow 30 company with nearly $116 billion in 2012 revenues, Verizon employs a diverse workforce of 178,300. Verizon also provides converged communications, information and entertainment services over America’s most advanced fiber-optic network, and delivers integrated business solutions to customers in more than 150 countries. Verizon Wireless operates America’s most reliable wireless network, with more than 101 million retail connections nationwide. (NYSE, Nasdaq: VZ), headquartered in New York, is a global leader in delivering broadband and other wireless and wireline communications services to consumer, business, government and wholesale customers. Also in fourth-quarter 2013, Verizon announced the acquisition of upLynk’s exclusive technology that streamlines the process of uploading and encoding of video for live, linear and video-on-demand content. In December, Verizon announced a definitive agreement to acquire EdgeCast, an industry leader in content delivery networks. It’s the next logical step, and we’re excited about the road ahead.” ![]() Intel provided us with the technological know-how and resources to develop products and services that will fundamentally change the way we experience TV, and now Verizon gives us access to the marketplace and the ability to scale. This sale also enables Intel to further align our focus and resources around advancing our broad computing product portfolio in segments ranging from the Internet-of-Things to data centers.”Ĭombined with Verizon’s current and recently announced new video-delivery capabilities, the transaction also provides the platform and skill sets for Verizon to continue to expand the depth, breadth and scope of its video offerings, including mobile, in the future.Įrik Huggers, corporate vice president and general manager of Intel Media, said: “We’re incredibly proud of what we’ve achieved. The critical factor in gaining efficient access to content is based on your ability to scale quickly in subscribers and end users, which is why selling these assets to Verizon makes perfect sense, with its millions of FiOS network and wireless customers. #ONCUE INTEL TV#FiOS customers are also expected to benefit from elegant search and discovery, interactivity and cross-screen ease of use – integrated with the Verizon Wireless 4G LTE network.īrian Krzanich, CEO of Intel Corporation, said: “Intel Media’s over-the-top TV products are truly innovative and under Verizon’s ownership have the potential to change how people interact with content. Once the transaction is closed, Verizon expects to integrate IP-based TV services with FiOS video to further differentiate FiOS from traditional cable TV offerings and to reduce ongoing deployment costs. We will have the opportunity to enhance, expand, accelerate and integrate our delivery of video products and services to better serve audiences on a wide array of devices.” This transaction provides us with the capabilities to build a powerful, capitally efficient engine for future growth and innovation. Verizon already has extensive video content relationships, fixed and wireless delivery networks, and customer relationships in both the home and on mobile. Lowell McAdam, chairman and CEO of Verizon, said: “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. The transaction is subject to customary regulatory approvals and closing conditions and is expected to close early in the first quarter of 2014. ![]() Verizon will also make employment offers to substantially all of the approximately 350-person Intel unit, which will continue to be based in Santa Clara and be led by its current management team. Verizon will purchase intellectual property rights and other assets that enable Intel’s OnCue Cloud TV platform. Terms of the transaction were not disclosed. The transaction will accelerate the availability of next-generation video services, both integrated with Verizon FiOS fiber-optic networks and delivered “over the top” to any device. (NYSE, Nasdaq: VZ) and Intel Corporation (Nasdaq: INTC) today announced an agreement for Verizon to purchase from Intel the assets of Intel Media, a business division dedicated to the development of Cloud TV products and services. Transaction Will Accelerate the Availability of Next-Generation Video Services ![]()
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