• Reuters, Monday, October 18, 2010 1:29 PM

On the heels of recruiting Chris Menard as CFO, online video platform Brightcove is gearing up for an IPO, reports Reuters. A source tells Reuters that Brightcove will likely file by mid-2011.

Menard is the latest in a string of senior executives who have joined Brightcove this year, including President and COO David Mendels, who came over from Adobe Systems in January. Brightcove -- long rumored to be a Google acquisition target -- is presently looking for acquisitions that will help it improve its market share, differentiate its technology and recruit new talent, Chief Executive Jeremy Allaire tells Reuters. According to recent findings from MediaPost's Center for Media Research, conducted in conjunction with InsightExpress, budgets for the three major forms of video advertising -- TV, online video and mobile video -- are expected to continue growing.

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