Thursday, October 25, 2012

Telefónica Digital Acquires TokBox for Video Platform

Telefónica Digital has acquired TokBox, a San Francisco based start-up developing a platform for live video-based communications services.  Financial terms were not disclosed.

TokBox's OpenTok Video Platform enables enables video calling to be integrated into websites and mobile applications. TokBox launched the OpenTok Video Platform in November 2010 with companies such as American Idol, Ford and Diet Coke having used its technology.

Telefónica said it will leverage TokBox's Platform to enhance the communication services it offers business and consumer customers, adding cross-platform Web-based video communications to its existing voice and messaging capabilities.  Telefónica and TokBox will work to incorporate video APIs into the BlueVia platform, creating a unified video, voice and text API service with global reach.

Ian Small will remain as CEO of TokBox and Carlos Domingo, Director of Product Development & Innovation at Telefónica Digital, will join the TokBox Board of Directors and become President of the company. The acquisition was led by Telefónica Digital's Silicon Valley-based venture investment team.

Matthew Key, CEO of Telefónica Digital said, 'Telefónica is all about empowering our customers through new and innovative digital services. By adding TokBox's unique capabilities to our communications portfolio, we will allow our customers to leverage the full potential of web-based video communications in their own business models.'