Telstra, an Australian telecommunications company, will invest $270 million to take its ownership stake in video streaming and analytics company Ooyala from 23% to 98%; Telstra previously invested $61 million into the company. Ooyala will become a subsidiary of Telstra through the transaction and continue to operate independently under existing management. Its end-to-end video technologies are used by customers including ESPN, Foxtel and Univision; the tech platform provides companies with online video management, publishing, analytics and monetization. Prior to the acquisition, Ooyala had raised $122 million in venture funding from a host of investors including Rembrandt Venture Partners, Sierra Ventures, SV Angel and more, raising its most recent round at a valuation of over $276 million. The acquisition will allow the two companies to establish a global company to deliver platforms and services on which TV and video can be built.