Veritone Acquires Wazee Digital for $15 Million
Veritone has signed an agreement to acquire Wazee Digital, a provider of cloud-native video management and licensing services that enable rights holders to monetize and enrich their content. Veritone, a SaaS-based operating system for AI, will offer the Wazee Digital applications and services into the media and entertainment as well as government markets, providing Veritone customers with the ability to drive expanded revenue opportunities from their existing video, still images, and audio assets.
Veritone is paying $15 million for Wazee Digital, based in Denver, Colorado. San Francisco-based GCA Advisors served as banking advisor to Veritone on this transaction, and Waller Capital Partners, headquartered in New York, advised Wazee Digital.
Veritone and Wazee Digital have been collaborating together as technology partners since 2017, with the first integration of the companies’ products completed in April of this year.
Wazee Digital has a “dynamic content licensing and asset management business,” one of the most comprehensive operational platforms for monetization of digital media assets with a strong roster of blue-chip customers, said said Chad Steelberg, Veritone founder & CEO. And now, as a result of the recent integration between Wazee Digital’s asset management platform and Veritone’s operating system for AI—aiWARE—joint customers can fully index, categorize, and package content on Wazee Digital’s platform, resulting in additional revenue opportunities, he added.
The Wazee Digital management team will add leadership and expertise by integrating into Veritone’s existing team. Veritone will apply its go-to-market capabilities and growing sales channels to cross-sell aiWARE to existing Wazee Digital customers and Wazee Digital’s products and services to Veritone customers and channels.
Veritone will also be marketing the combined offering into other verticals where the collection, management, and subsequent retrieval of key video, still images and audio assets are essential.
To learn more, visit Veritone.com.