(Panopto Image)

Seattle-based enterprise video platform Panopto has acquired Syracuse, N.Y.-based Ensemble Video, which also operates a platform to help customers manage and publish video content.

Ensemble launched in 2005 after a group of Syracuse University employees came up with a new way to manage video content for the institution. It mainly works with K-12, higher education, and enterprise customers.

Panopto, founded in 2007, first targeted universities that wanted a way to capture, store, stream, and sort through videos of lectures. It later found demand in enterprise video content management — organizations ranging from financial institutions to appliance manufacturers that wanted a way to manage videos and slides for training, events, sales, marketing, and more.

Panopto said its annual recurring revenue increased more than 40% in 2020. The company’s ARR is now $50 million. Panopto CEO Eric Burns said “the use of on-demand video for communication and learning has grown rapidly over the last year.”

Ensemble customers will migrate to Panopto later this year; for now the companies will remain separate brands and platforms. Terms of the deal were not disclosed. The companies declined to provide details about employee counts.

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Source:: GeekWire

      

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