IBM, which has seen revenue drop for 15 consecutive quarters as it realigns itself with more emphasis on cloud and cognitive computing, is buying live video streaming provider Ustream.

It’s the second recent play for IBM (NYSE: IBM) in the cloud and video delivery space, following the buy of Clearleap. Clearleap provides video streaming, ecoding, management and monetization services. (See links with this post about the Clearleap deal.)

Terms of the Ustream deal were not disclosed. Fortune first reported the deal might happen on Wednesday.

IBM says Ustream will become part of its new Cloud Video Services unit.

General Manager Braxton Jarratt, the leader of the IBM unit, says Big Blue sees the market as a $105 billion opportunity.

“Video has become a first-class data type in business that requires accelerated performance and powerful analytics that allows clients to extract meaningful insights,” said Robert LeBlanc, Senior Vice President of IBM Cloud. “Aligning our expansive video and cloud innovations into an integrated unit will create  for clients to take advantage of this medium in the most strategic way possible.”

Ustream already streams live and on-demand video to about 80 million viewers per month for customers, according to IBM. Customers include. NASA, Samsung, Facebook, Nike and The Discovery Channel.

“New IBM Cloud Video Services Unit Delivers the World’s Most Comprehensive Video Offerings”

How IBM describes its new unit:

“Ustream joins the newly-formed IBM Cloud Video Services unit that combines assets from IBM’s R&D labs and strategic acquisitions. IBM will deliver a powerful portfolio of video services that spans open API development, digital and visual analytics, simplified management and consistent delivery across global industries.

“IBM Cloud is assembling transformational capabilities into the new Cloud Video Services unit to help clients across a wide range of industries integrate video into a strategic source of data. This includes media & entertainment, retail, education and government services.

“The unit combines assets from Ustream, as well as the recent acquisition of Clearleap. It will also create solutions that integrate technologies from other IBM investments, including Aspera and Cleversafe, as well as IBM R&D innovations. IBM has been a long-time developer of video and digital media technologies and has been awarded more than 1,000 patents in areas such as visual analytics and indexing and searching large collections of videos and digital images. IBM has also received four Emmy Awards for video related innovations.

“By combining these innovations, IBM is creating a leading Cloud platform that enables clients to easily ingest, store and manage live and on-demand video, enhance them through analytics, apply rights management and language capabilities, and distribute them consistently across the globe.”

IBM employs several thousand people in RTP and operates one of its most modern cloud computing data centers on the Triangle campus.