[Brightcove] announced that it has agreed to acquire cloud encoding vendor Zencoder, creator of the popular Video.js HTML5 video player. Zencoder has more than 1,000 paying customers for its encoding services, including PBS, Scripps Networks Interactive, IGN, SmugMug, Yammer, TwitVid, College Humor, Funny or Die, and others. The open source Video.js player is used on more than 24,000 websites.

Brightcove is paying $30 million for Y Combinator alum Zencoder, and plans to continue to operate the company separate from its core business. Founded in 2010, Zencoder raised just $2 million, mostly through a Series A round raised in April 2011.

Read the full article on Techcrunch

Also read the announcement on the Zencoder blog