Microsoft Corp. on Tuesday announced that it had acquired video editing software company Clipchamp.
Terms of the contract are not disclosed.
“I am overflowing with enthusiasm at the idea that Clipchamp will join Microsoft”, Microsoft MSFT,
Chris Pratley said in a blog post. “The Clipchamp team is a creative force dedicated to quality and great results for clients, and we welcome them wholeheartedly as soul mates. We’re going to do amazing things together.
Pratley said the software will be integrated with Microsoft 365, calling it “natural fit”.
Australia-based Clipchamp was founded in 2013 and has raised around $ 15.3 million in funding, according to Crunchbase. Its software allows users to create and edit videos and aims to simplify this process for individuals and small businesses.
In a blog post announcing the deal, Clipchamp co-founder and CEO Alexander Dreiling said the company is starting a “new journey” and that “being part of Microsoft allows us to be part of a future legacy. “.
Clipchamp is the ninth company Microsoft has acquired this year, according to the tech giant’s tally, including the July addition of cybersecurity firm RiskIQ and the nearly $ 20 billion April deal for Nuance. Communications.
Microsoft shares are up 35% year-to-date, versus the S&P 500’s SPX,
20% gain this year.
Comments are closed.