库 Buys 库鲁, Gains Cloud Solution for Enterprise Video Customers
Enterprise video solutions company 库 has decided acquisition is its best option to create a cloud distribution option for its customers. The Minneapolis, Minnesota-based company reached across the Atlantic to acquire 库鲁山谷, a U.K. company that offers tools for quickly creating video presentations. Besides adding to 库's video creation tools, the acquisition brings cloud content management and delivery. 库鲁山谷's cloud offering has already been rebranded 库 Cloud.
The acquisition was completed on Friday, October 3, with a total value of $15 million. 其中，11美元.5 million is in cash and the rest in 275,000 shares of 库 stock.
Prior to this, 库 has focused on internal collaboration in its enterprise video offerings. 库鲁, on the other hand, has built a cloud-based creation and distribution software-as-a-service offering. By bringing cloud distribution to the 库 platform, customers can use it to reach prospective customers.
库鲁山谷 now has over 80 customers, mostly in Europe. It generated a profit of $5.5 million in the twelve-month period ending June 30, 2014.
“The acquisition of 库鲁山谷 gives 库 customers immediate access to best-in-class video content creation capabilities and an easy-to-deploy pure cloud solution, while also expanding our own addressable market,” says Sherman Black, 库's CEO and president. “For 库鲁 customers, 库’s industry leading video content management and delivery capabilities provide them with a clear expansion path. It’s a mutually beneficial relationship.”
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