Core Insights - Banzai International, Inc. has signed a definitive agreement to acquire Vidello, a video hosting and marketing suite provider, which is expected to add 2.3 million in EBITDA for the twelve-month period ending September 30, 2024 on a pro-forma basis [1][8] Company Overview - Vidello has over 90,000 customers and offers key products such as CreateStudio, which has been recognized as a Top 3 Best Rated product in the video maker category by Capterra and a High Performer by G2 [2] - The company provides a comprehensive suite of tools for video creation, hosting, and marketing, aimed at helping online businesses grow [9][13] Transaction Details - The acquisition will involve an aggregate payment of up to $7 million, consisting of cash and equity, subject to certain holdback amounts and performance targets [1][12] - The transaction is expected to close in December 2024, pending customary closing conditions [12] Strategic Importance - The acquisition is seen as a strategic move for Banzai to enhance its portfolio of AI-powered marketing tools, with a focus on video content as a key marketing medium [11] - Banzai's CEO expressed confidence that Vidello's products will significantly ease the process of creating engaging video content, which is increasingly important in marketing [11]
Banzai Signs Acquisition of Vidello, Growing TTM Revenue 59% to $17.3M and Adding $2.3M in EBITDA