QuickPlay Media Inc., a Toronto, ON-based provider of cloud-based infrastructure for premium media services, has received an approximately $100m equity investment from funds affiliated with Madison Dearborn Partners LLC.
The company intends to use the proceeds from the investment to continue to expand.
Following the close of the transaction, Madison Dearborn and QuickPlay’s employees own the majority of the company with a limited number of minority shareholders including Toronto-based Difference Capital Inc. which will remain part of the ownership.
Led by Wayne Purboo, CEO and founder, QuickPlay Media QuickPlay Media provides managed service solutions for the distribution of premium video to IP-connected devices.
It serves large communications and media companies, including AT&T U-verse, Bell, Research In Motion (RIM), Rogers Communications, Samsung, SIRIUS XM Radio, Television Broadcasts Limited (TVB) and Verizon.
In June 2011, the company acquired the network operations center assets of FLO TV from Qualcomm Incorporated as part of its U.S. expansion, broadening its abilities for managing on-demand content and live TV coverage of major sporting and news events for customers worldwide.