TORONTO – An American telecom giant plans to acquire Quickplay, a Toronto video-streaming business.
AT&T says Quickplay already supports its U-verse TV Everywhere service and will support other streaming offers to be introduced in 2016.
It says Quickplay’s 350 employees and contractors will remain, as their skills are required to fulfil the company’s video strategy.
AT&T’s announcement on Monday from Dallas did not specify what it will pay to acquire Quickplay from Chicago-based Madison Dearborn Partners.
The two companies aim to close the deal in the middle of this year, after regulatory reviews in the United States and Canada.