Israeli Magisto is acquired by the Vimeo video sharing platform for more than $ 100 million

Israeli Magisto is acquired by the Vimeo video sharing platform; The amount of the acquisition has yet to be disclosed, but according to market estimates, it stands at $ 100 million. The deal is expected to be implemented by the end of the second quarter; The two companies recently cooperated, which apparently contributed to the maturity of the deal. The company was founded in 2010 by Oren Boyman and Alex Rav-Aha and currently employs 75 people worldwide, most of them in Israel. Following the acquisition, the company will become Wimao's development center in Israel.
Magisto has developed an automatic and simple editing application for home-made videos on a smartphone, and can save the need for expensive professional tools. It also allows the user to define which are the most important subjects in each frame, allowing the software to highlight them in any edited version. The company's technology is also used by businesses that want to produce their own advertising and advertising videos quickly and at a low cost while maintaining professional quality. Vimao, the purchaser, competes on streaming platforms as a channel and is home to some 90 million creators from 150 countries.
The Israeli company was originally aimed at the private market, but over the years it has become more focused on the organizational market. The videos that its app produces can be shared across various network platforms easily and quickly.