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Telstra invests $US35 million in Silicon Valley

Telstra invests $US35 million in Silicon Valley

DLA Piper has advised Telstra on a $US35 million investment in IPTV video company Oolaya.

Firms: DLA Piper (Telstra Applications and Ventures Group), Fenwick & West (Oolaya)

Deal: Series E Venture Financing and Strategic Partnering Arrangement 

Area: IP&T

Value: $US35 million

Key players: DLA Piper partner Richard Horton, who splits his time between DLA's Sydney office and Silicon Valley, was the lead partner on this deal.

Deal significance: Telstra has invested $US35 million in US-based IPTV video company Oolaya, in a move that will see Telstra integrate Ooyala's technology into its IPTV platform. "This was a strategically clever deal for Telstra and a testament to their team both in Australia and Silicon Valley. Having experienced Silicon Valley lawyers on the ground in Australia and in California made it a perfect fit for DLA Piper."

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