AT&T acquiring video streaming platform Quickplay

AT&T has agreed to buy Quickplay Media, a leading digital streaming distribution platform. It currently supports AT&T's U-verse TV Everywhere and soon DirecTV Now, DirecTV Mobile and DirecTV Preview, which will allow viewers to stream DirecTV content over the Internet.

"Our strategy is to deliver video content however, whenever and wherever," John Stankey, head of AT&T's Entertainment Group, said in a statement. "We intend to scale and operate an industry-leading video distribution platform, and viewers will get the high-quality online video viewing experience they desire."

The Toronto-headquartered Quickplay has reportedly raised more than $180 million since it was launched in 2003. Currently it is owned by private equity investment firm Madison Dearborn Partners in 2012 for around $100 million.

"We've spent more than a decade developing an advanced technology and service platform that can deliver premium video content to any device and over any network," said Quickplay CEO and founder Wayne Purboo in a statement. "With AT&T, we’ll have the resources we need to further scale, grow the business and continuously enhance that platform."

The acquisition is subject to regulatory approvals and the deal is expected to close in mid-2016.

Read more -here-