VideoVerse, a leading video-editing SaaS platform, announced on Wednesday that it acquired Reely.ai, a US-based Esports AI-powered content creation and social media distribution company.
The deal, as per VideoVerse, was made in a strategic move to expand its offerings and deliver enhanced solutions to its customers in the gaming industry. The acquisition will enable VideoVerse to better serve its customers in the gaming and esports sectors, where the demand for AI-driven content creation and distribution continues to grow.
Reely.ai is known for its AI technology tailored to gamers and streamers that automates the editing process, streamlines video content creation, and aids in crafting more engaging content. The platform is said to automatically identify highlights and key moments within a game, making it easier to create highlight videos and share them across various social media channels.
Vinayak Shrivastav, VideoVerse CEO and co-founder, said, "We are delighted to welcome Reely.ai to the VideoVerse family. This acquisition is a strategic step towards expanding our offerings and delivering enhanced solutions to our customers in the gaming industry."
Siddhant Bhandari, Strategy Lead at VideoVerse, added, "Innovation has always been the driving force at VideoVerse, and we are actively seeking out pioneering companies like Reely.ai to ensure we are at the forefront of AI-driven innovation in content creation."
VideoVerse added that it has already begun integrating Reely.ai's technology into its existing suite of solutions to expand and improve its capabilities in the gaming market. The company said it will provide advanced tools to players, streamers, and content creators looking to develop, share, and extend the reach of high-quality video content.
Daniel Evans, CEO of Reely.ai, said, "Joining forces with VideoVerse was an obvious choice. VideoVerse's comprehensive expertise in short-form video creation and distribution, combined with the latest AI and ML technology, pairs perfectly with our real-time gaming solutions. This collaboration will generate immense value for teams and content creators."
Speaking to CNBC-TV18, Vinayak Shrivastav, Co-Founder & CEO, VideoVerse said, “Reely unlocks the next bit of use case for us, which is in the e-gaming, and we feel that that is a market that is just about to kind of get started.”
He added, “A lot of our customer bases overlap with Reely so we have already started acquiring customers in the e-gaming space. Currently, the growth plans for Reely is fairly simple, obviously, while we continuously keep doubling down on the use cases within the gaming the idea is also too kind of launch all the Facebook plugins that we have been working on for the last two quarters with the Reely team.”
The terms of the deal were not disclosed.