"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.
AT&T plans to retain Quickplay's more than 350 employees and contractors and continue to support and expand its global customer base. The transaction, which is subject to regulatory approvals, is expected to close in mid-2016. The companies did not disclose financial terms.