Microsoft acquires a startup after the failure of the “Tik Tok” deal!

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Microsoft said it had acquired a software startup called Clipchamp, which consumers and corporate workers can use to edit videos. Terms of the deal were not disclosed.

The company’s technology aligns with Microsoft’s years-long effort to expand its productivity software offerings for both individual users and businesses.

“Clipchamp’s tech approach is to combine the simplicity of a web application with the ability to process video using the full computing power of a PC with GPU acceleration, something that was limited Previously on traditional video applications.

“As we advance our integration planning, we will have a process to convert existing Clipchamp users/clients into Microsoft subscribers,” a company spokesperson said.

Founded in 2013, Clipchamp is based in Brisbane, Australia, and has 92 employees, according to LinkedIn data. Investors include Ten13 and Tola Capital.

In July, Clipchamp said it had 17 million registered users, with adoptions at more than 390,000 companies, up 54 percent year-over-year. The Clipchamp website also mentioned Deloitte, Google, Microsoft and Zendesk among the companies using its software.

The announcement comes 3 weeks after Adobe announced that it had acquired Frame.io, whose software allows people to comment on videos during the editing process, for $1.275 billion. Microsoft itself has also shown interest in video before, having been involved in talks last year to acquire TikTok’s US operations.

Source
Kuwaiti news newspaper







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