Wednesday, March 2, 2016

GoPro Acquires Two Mobile Video Editing Apps

GoPro, the US-based action camera maker, has acquired two mobile video editing apps- Replay and Splice. GoPro told FORBES that it paid $105 million in cash and stock to acquire the two companies behind Replay and Splice video editing apps.

Developed by Paris-based Stupeflix, Replay allows users to select clips and photos and then automatically combines them into a complete video with transitions, effects and music. Built by Austin-based Vemory Inc, Splice provides a manual video editing tool. Both mobile editing apps are currently available on iOS platform with Android releases planned for later this year. 

Image credit: The Verge
Nicholas Woodman, founder and CEO of GoPro, said in a statement: 
"Splice, Replay and GoPro will combine to deliver what we believe will be the fastest and most enjoyable mobile editing experience," and also added this: "We believe the accessibility, speed and efficiency of mobile will make it the predominant editing platform of the future." 

Both teams will join GoPro and maintain operations in their current locations, though GoPro CEO Woodman declined to comment about how many people would be joining his company. CEO Woodman also declined to say how they would be integrated into his company’s current software offerings.

Last month, GoPro announced that it would be cutting 7% of its workforce after poor holiday sales numbers largely due to the inability of its new cube camera, the Hero4 Session, to catch on with the big crowd.

Founded in 2002 and based in San Mateo, California, GoPro, Inc. (formerly Woodman Labs, Inc) is an manufacturer of action cameras, often used in extreme-action videography.
GoPro currently dominates the action camera market. The company competes with the likes of Garmin (GRMN), Polaroid, Panasonic, Nikon, and Sony (SNE). 

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