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Verizon buys Intel OnCue television service

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Remember when we were all excited about Intel’s plans to build hardware and software that would enable users to watch live TV, recently-aired content, on-demand programming and other programs in their homes and on their mobile devices? They called the service OnCue and it would deliver the programming via broadband Internet connection. It was also supposed to launch by the end of 2013. But so much for that.

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Now Verizon Communications is showing up to save the day as they announced Tuesday that they will acquire Intel Media’s assets. Verizon said the acquisition will “accelerate the availability of next-generation video services,” delivered across the Verizon FiOS fiber-optic networks.

Although no financial details were revealed, the transaction is said to close in Q1 2014.

Lowell McAdam, chairman and CEO of Verizon said:

“The OnCue platform and team will help Verizon bring next-generation video services to audiences who increasingly expect to view content when, where and how they want it. Verizon already has extensive video content relationships, fixed and wireless delivery networks, and customer relationships in both the home and on mobile.

This transaction provides us with the capabilities to build a powerful, capitally efficient engine for future growth and innovation. We will have the opportunity to enhance, expand, accelerate and integrate our delivery of video products and services to better serve audiences on a wide array of devices.”

Verizon hopes this acquisition will further advancements for future video and mobile services.

So what happened, Intel?

Well, seemingly Intel was just too focused on other things. Intel’s CEO Brian M. Krzanich opted to steer the company more towards chip and mobile than television development so the project was ultimately put on hold. Verizon, Samsung and Liberty Global were all supposedly interested in buying the service.

Well at least we should see the service developed now.

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