Seattle-based corporate video platform Panopto has acquired Syracuse, NY-based Ensemble Video, which also operates a platform that enables customers to manage and publish video content.
The ensemble was founded in 2005 after a group of Syracuse University staff developed a new way to manage video content for the institution. It works primarily with K-12, college, and corporate customers.
Panopto was founded in 2007 and initially targeted universities that wanted to capture, save, stream and sort videos from lectures. It later found demand in enterprise video content management – organizations that ranged from financial institutions to device manufacturers looking for a way to manage videos and slides for training, events, sales, marketing, and more.
According to Panopto, annual recurring sales increased more than 40% in 2020. The company’s ARR is now $ 50 million. Eric Burns, CEO of Panopto, said, “The use of on-demand video for communication and learning has grown rapidly over the past year.”
Ensemble customers will migrate to Panopto later this year. For the time being, the companies will remain separate brands and platforms. The terms of the contract were not disclosed. The companies refused to provide information on the number of employees.