Ooyala and Telstra have completed the management buyout of Ooyala, with the Australian telco – which spent about $500 million to snap up the San Jose based video monetization firm in 2016  – to remain a key go-to-market partner and customer.

“The management team is excited to take on this next chapter in Ooyala’s growth,” said Ooyala CEO Jonathan Huberman. “We are pleased by the tremendous market reception of our flagship product, Ooyala Flex Media Platform, and how it has enabled our OVP and media logistics customers to drive supply chain efficiencies and revenue growth through automation and AI-driven insights.”

The firm – whose customers include Audi, Chelsea FC, Dell, National Rugby League of Australia, PGA, Starhub, Sky Sports, and Turner – plans to keep investing in its OFM proposition and crank up its strategic M&A drive.

“We’re now much better equipped to more nimbly drive Ooyala’s growth, innovating our own technologies as well as acquiring others that deliver the best customer satisfaction,” said Huberman.