The Victoria-based firm, which helps digital companies scale, said the deal to add the video-creation software maker to its fold closed last week. “We’re unable to share the terms of the acquisition,” spokesperson Logan Findlay said in an email to The Logic. (The Logic)
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The Victoria-based firm, which helps digital companies scale, said the deal to add the video-creation software maker to its fold closed last week. “We’re unable to share the terms of the acquisition,” spokesperson Logan Findlay said in an email to The Logic. (The Logic)
Talking point: Animoto’s web application uses Cinematic Artificial Intelligence, a technology the company launched in 2007 that acts as a director and editor for images and music a user selects. The firm had raised more than US$30 million, according to PitchBook, with its last raise of US$25 million in 2011 from Amazon and other investors when it was valued at US$125 million. Redbrick said the acquisition means it will reach $100 million in annualized revenue and the company will now have 200 staff globally.
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