The Discovery Channel is announcing that it has acquired online video company Revision3, as reported in AllThingsD. Revision3 has also confirmed the deal in a press release.
My boss Eric Eldon wrote on Monday night that an acquisition was in the works, with a price between $30 million and $40 million. Looks like he was right: Discovery isn’t releasing the terms, but AllThingsD is also hearing that the price was $30 million. Revision3 had raised $10 million from investors including Greylock Partners, Marc Andreessen, and Mark Cuban.
Revision3 will reportedly continue to operate from its San Francisco headquarters and produce its own Web shows, though the plan is to start incorporating Discovery Channel content eventually. The company previously said it has 800 million video views in 2011.
The deal is expected to close before June 1.
“With Revision3’s industry-leading management team and roster of great talent, we look forward to cultivating more original content and fresh personalities that resonate with passionate communities online and across all platforms, while enhancing our innovative marketing solutions for advertising partners,” Discovery Chief Digital Officer JB Perrette says in the release.