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AT&T Inc. (NYSE: T) plans to acquire Toronto-based Quickplay Media Inc., a leader in powering over-the-top (OTT) video and TV Everywhere services, from Chicago-based private equity firm Madison Dearborn Partners. The acquisition builds on the companies’ existing relationship. Financial terms were not disclosed. Madison Dearborn acquired a majority stake in Quickplay for $100 million in 2012. QuickPlay is a leading cloud-based mobile video platform that allows pay-TV operators, wireless carriers and content providers to outsource the collection, storage, manipulation and delivery of audio and video content to IP-connected devices such as smartphones and tablets. The company was founded in 2004 and is headquartered in Toronto, Canada, with a global delivery center in San Diego California, and offices throughout the US, Singapore, and in London, UK. Backed by a decade of experience, Quickplay is a global expert in powering TV to any device. Its managed services leverage cloud economics and an open platform to integrate best-of-breed partners so users can focus on growing their business. With facilities and operations teams in Toronto, San Diego, Singapore, Chennai, and Frankfurt, Quickplay enables 700 million people around the globe to fast forward to a next generation of TV with over 700 live channels, 4,000 live events each year, and 2 million securely managed premium content assets. Quickplay’s platform currently supports AT&T’s U-verse TV Everywhere offering and will support the streaming offers — DIRECTV Now, DIRECTV Mobile and DIRECTV Preview — that AT&T plans to introduce later this year. These new plans will let viewers stream DIRECTV content over the Internet to virtually any device. “Our strategy is to deliver video content however, whenever and wherever,” said John Stankey, CEO, AT&T Entertainment Group. “Quickplay’s multitenant IP distribution infrastructure, combined with AT&T’s leading scale in IP connected end points, will allow us to host and distribute all forms of video traffic. 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. “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. Our solution is highly automated and scalable. With AT&T, we’ll have the resources we need to further scale, grow the business, and continuously enhance that platform,” said Wayne Purboo, founder and CEO, Quickplay. “Our team is proud of what we’ve built so far and excited to join the AT&T family. This combination will help us power the next generation of video services.” AT&T plans to retain Quickplay’s more than 350 employees and contractors. “Quickplay’s talented team of people is critical to our success,” Stankey said. “Their knowledge and skills are a key part of executing our video strategy.” AT&T plans for Quickplay to maintain its high level of service and continue to support and expand its global customer base, grow its managed platform services and continue to enable other companies — from video providers to content distributors — to deliver premium video to any device and over any network. The transaction is subject to pre-merger review under the Hart-Scott-Rodino Act in the U.S. and the Competition Act in Canada and to other customary filings and approvals. AT&T and Quickplay expect to close the deal in mid-2016. AT&T is a leading provider of telecommunications and digital entertainment services. the company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility, and International. AT&T is the second largest provider of mobile telephone and the largest provider of fixed telephone in the United States, and also provides broadband subscription television services. AT&T is the third-largest company in Texas (the largest non-oil company, behind only ExxonMobil and ConocoPhillips, and also the largest Dallas company). AT&T is headquartered in Dallas, Texas. The company has a current market capitalization of $241.81 billion. AT&T Inc. began its existence as Southwestern Bell Corporation, one of seven Regional Bell Operating Companies created in 1983, as a result of the antitrust divestiture of the American Telephone and Telegraph Company (founded 1885, later AT&T Corp.). Southwestern Bell changed its name to SBC Communications Inc. in 1995. In 2005, SBC purchased former parent AT&T Corp. and took on its branding, with the merged entity naming itself AT&T Inc. and using the iconic AT&T Corp. logo and stock-trading symbol. Madison Dearborn Partners (MDP) is a leading private equity investment firm in the United States. Since MDP’s formation in 1992, the firm has raised seven funds with aggregate capital of over $21 billion and has completed approximately 130 investments. MDP invests in businesses across a broad spectrum of industries, including telecom, media and technology services; financial and transaction services; business and government services; health care; basic industries; and consumer. Noteworthy TMT investments include Asurion, Cbeyond, Intelsat, Liquid Web, NextG Networks, Q9 Networks and Univision.]]>