Widevine Bought by Google as Streaming Video Heats Up
You heard it here first—the rumor, I mean. Now it’s confirmed. Seattle-based Widevine Technologies is being acquired by Google in a deal of undisclosed size. The Mountain View, CA-based search giant (NASDAQ: GOOG) said today in a blog post that “Widevine has made on demand [video] services more efficient and secure for media companies, and ultimately more available and convenient for users.” Google says it will work with its new acquisition “to improve access to great video content across the Web.”
As I reported last month, the deal makes sense, because Widevine’s technology could fill a hole for Google TV in its competition with Apple and other tech companies. The competition seems to be heating up in online video distribution to different kinds of devices. Widevine’s software involves digital rights management, streaming, and copy protection and tracking technology that can be used by content owners, cable companies, and Internet service providers.
Widevine was founded in 1999 and has raised more than $65 million in financing. It is led by co-founders Brian Baker (CEO) and Jeremy Horwitz (vice president of security research).