The telecommunication giant's digital media services business acquires Volicon which is a leading provider of braodcasting monitoring services as well as content archival.
Verizon Communication Inc.’s cloud video and advertising division, Verizon Digital Media Services announced on Wednesday that it has entered into an agreement to acquire Volicon, a leading provider of video capturing, broadcasting monitor and content archival.
Volicon stated that the company provides products which are used for compliance monitoring, competitive analysis, making videos for the social media as well as the web. On the other hand, Verizon’s Digital Media division is under the umbrella of AOL and this acquisition of Volicon suggests that the telecommunication giant is hoping to help broadcasters showcase their already existing videos and feeds on other online platforms.
Additionally, this acquisition is likely to serve as a beckon for Verizon as well since it will help the organization become the leading provider of technology and media service in the media broadcasting as well as online-video industry. The specific segment of the telecom organization allows users to share their content anywhere and at any time to any audience on a secure platform.
Bob Toohey, Verizon Digital Media Division President stated that in today’s world everything has started to move to mobile, digital and videos and most important job of the company is to keep pace with that and provide its users with the best platform to securely share their content on the Internet with the highest possible quality.
The media services division currently provides service to over 1,200 broadcasters, publishers and video operators all across the globe and has its fair share of experience in competitive analysis and video monitoring as well. By collaborating with Volicon, the media management company is likely to improve its visibility; quality as well as transparency that the company already provides to its users as it is able to share their content and advertisements anywhere in the world.
With Volicon’s technology along with Verizon’s Video Lifecycle Solution, both the companies in partnership with each other will be able to provide its customers with seamless options to take their existing content and broadcast feeds to another level through cloud-based delivery modes. Both the companies, at this point, have a video background and the necessary tools to help broadcasters create content including highlights, clips that they can share with the world.
The financial terms of the deal have not been disclosed as yet. Volicon was founded back in 2005 by Julius Peri, Yehuda Brand and Eli Warsawski. The CEO, Eli Warsawski shared his views on the acquisition, stating that he is quite pleased to be a part of the Verizon family and he sees that both the company share a similar vision. He added that this acquisition has opened more opportunities for the organization and as their products will grow through this takeover, the customers are likely to benefit greatly from it as well.
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