Frankly Inc. (TSX VENTURE: TLK), a New York based provider of a complete suite of solutions that give publishers a unified workflow for the creation, management, publishing and monetization of digital content to any device, is to acquire Vemba, a video asset management, syndication and monetization platform.
The move strengthens the company’s position as the most advanced Over-The-Top (OTT) Video Management and Cloud Playout system for broadcasters.
Frankly plans to leverage its channel partners to expand the company’s global footprint into other adjacent media markets, including such possible areas as eSports and gaming.
The combined business will serve over 1,200 broadcasters and look to rapidly expand its customer base in numerous media sectors with Vemba’s added capabilities.
Norbert Horvath, Vemba’s Founder and Chief Technology Officer, will become Frankly’s Chief Product Officer following the transaction’s closing.
Led by Chief Executive Officer Lou Schwartz, Frankly provides a complete suite of digital solutions for media companies to create, manage, distribute and monetize their content on all platforms maximizing audience engagement and revenue potential.
The company also has offices in Atlanta.
Under the terms of the agreement, the company will acquire from Vemba Corporation the assets that comprise the Vemba business for a purchase price consisting of cash and approximately 300,000 Frankly common shares and the assumption of certain liabilities. The deal is subject to customary conditions for a transaction of this nature, including all required third party and shareholder approvals and the approval of the TSX Venture Exchange, and is expected to be completed within the next thirty days.