Vignette (Nasdaq: VIGN) has agreed to acquire Vidavee, a New York-based provider of online video management software. The deal is valued at $6.6 million in cash. Vidavee had raised just over $2 million in VC funding from Trident Capital.
Vignette (NASDAQ: VIGN), a global leader in Web experience management and delivery, today announced it has entered into a definitive agreement to acquire Vidavee, a video Web services company that enables Web publishers to easily upload, share, analyze and monetize Internet video content. The strategic acquisition and integration of Vidavee's advanced video publishing technology will provide unique video management and publishing capabilities to help advertisers and publishers generate new traffic, improve customer engagement and increase revenues.
Under the terms of the agreement between Vignette and Vidavee, Vignette will pay approximately $6.6 million in cash for all outstanding shares of Vidavee.
“Video and user-generated content are a top priority for organizations wanting to improve their Web experience, and Vidavee has assembled one of the strongest video management offerings in the industry,” said Mike Aviles, president and CEO of Vignette. “By adding video capabilities to our Web Experience Platform, we will be able to provide customers a powerful solution for engaging users across multiple mediums.”
Vidavee leverages heat maps to help organizations analyze viewer interaction and enable these companies to improve impressions and drive additional revenues by taking the most popular sections of a video stream and dynamically inserting advertising and other rich content. Additional video tagging capabilities allow users to identify sections of interest from a video and share the content to increase views and attract additional users.
Upon completion of the acquisition, Vignette will immediately offer Vidavee's unique video publishing technologies through a Software as a Service (SaaS) model. The integration with Vignette's Digital Services Hub will provide organizations with a single unified framework for content monetization and delivery needs. By extending the integration to its Community product line, Vignette can offer customers additional features and support for creating and managing user-generated content.
Once the Vidavee integration is complete, Vignette will become one of the first vendors to provide enhanced capabilities to ingest, manage, transcode and deliver video and other Web content through a single workflow and user interface. With this acquisition, Vignette can deliver the unprecedented ability to use the same publishing platform for content, advanced video and other rich media.
“Video is a key component for organizations looking to reach an expanded audience, generate more traffic and increase user time spent on site,” said Mark Brenner, CEO of Vidavee. “This acquisition breaks down the silos of video publishing and rich media management, giving organizations the ability, for the first time, to manage all their content from the same console.”