Mountain View, California-based video services company Ooyala, has been acquired by the Australian telco Telstra, the companies announced today.   Telstra will own 98% of  the company which will continue to operate independently.

Ooyala was founded by former Google executives in 2007. It has raised $122 million in funding which includes earlier investments by Telstra totaling $61 million which had been valued as a 23% stake.  Telstra purchased the majority ownership for $270 million.

A major focus of the company is  providing live, digital streaming services to big global broadcasters.  In April at the NAB conference in Las Vegas,  we spoke to Ooyala’s Jonathan Wilner about the company’s client implementation with broadcasters including Univision.  We have republished that interview today.