Business

Microsoft buys video-editing software company Clipchamp

Microsoft Corp. stated Tuesday it has acquired video-editing software program firm Clipchamp.

Phrases of the deal weren’t disclosed.

“I’m effervescent over with pleasure that Clipchamp can be becoming a member of Microsoft,” Microsoft
MSFT,
-0.32%

govt Chris Pratley stated in a blog post. “The Clipchamp group is a artistic powerhouse devoted to high quality and nice buyer outcomes, and we welcome them wholeheartedly as kindred spirits. We can be doing unimaginable issues collectively.”

Pratley stated the software program can be integrated into Microsoft 365, calling it “a pure match.”

Australia-based Clipchamp was based in 2013, and has raised about $15.3 million in funding, based on Crunchbase. Its software program permits customers to create and edit movies, and is geared toward simplifying that course of for people and small companies.

In a blog post saying the deal, Clipchamp co-founder and Chief Government Alexander Dreiling stated the corporate is beginning a “new journey,” and that “changing into a part of Microsoft permits us to turn into a part of a future legacy.”

Clipchamp is the ninth firm Microsoft has acquired this yr, based on the tech big’s tally, together with July’s addition of cybersecurity company RiskIQ and April’s almost $20 billion deal for Nuance Communications.

Microsoft shares are up 35% yr thus far, in comparison with the S&P 500’s
SPX,
-0.34%

20% achieve this yr.

https://www.marketwatch.com/story/microsoft-buys-video-editing-software-company-clipchamp-11631061846?rss=1&siteid=rss | Microsoft buys video-editing software program firm Clipchamp

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