Vimeo to acquire video creation platform Magisto

Video hosting and distribution platform Vimeo has announced it will acquire Magisto, which enables simple and intuitive short-form video creation for any platform. The acquisition will build up Vimeo’s video tool set and expand its global customer base.

From the release: “Magisto’s proprietary technology enables cutting-edge mobile apps and AI-powered editing tools which, combined with Vimeo’s scale and unmatched creator community, will empower more people to tell compelling stories through video,” said Anjali Sud, CEO of Vimeo.

Link: Variety

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