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Tech Industry

Brightcove makes purchase to bolster Web video

IPTV company buys MetaStories with hopes of bringing premium video online.

Brightcove, an emerging company in Internet Protocol TV, has acquired MetaStories, which makes tools to enhance Web video.

Founded by former Macromedia CTO Jeremy Allaire, Brightcove has created a suite of services for media companies and others that want to present or sell TV programs and other videos on the Web. Some of the customers are independent artists; others are multinational corporations. The company, for instance, is helping Reuters create a service that will let news sites, bloggers and others show Reuters video on their sites. Customers of Seattle-based MetaStories include National Geographic, USA Today and Discovery Networks.