ON24 Acquires Cloud Video Software Company, VIBBIO

Rhea-AI Summary

ON24 (NYSE: ONTF) has announced the acquisition of VIBBIO, a cloud video software company, enhancing its platform for creating personalized video content. This integration aims to provide businesses with tools to rapidly produce engaging video content for sales and marketing strategies.

The acquisition, funded by cash reserves, is not expected to significantly impact ON24's financial results for the full year of 2022. VIBBIO's technology will allow users to create branded videos, promote events, and generate first-party data, driving better engagement across digital channels.

Positive

• Acquisition of VIBBIO enhances ON24's video content capabilities.
• Integration allows for rapid production of personalized video content.
• The acquisition is funded from cash reserves, minimizing financial strain.
• Expected to improve customer engagement and marketing strategies.

Negative

• Financial terms of the acquisition were not disclosed.
• Integration of VIBBIO technology may pose operational challenges.

VIBBIO integration with the ON24 Platform will allow customers to create, edit, and reuse video content that engages audiences in new ways and delivers better personalized experiences

SAN FRANCISCO & LONDON--(BUSINESS WIRE)-- ON24 (NYSE: ONTF) today announced it has acquired VIBBIO, a cloud video software company. VIBBIO enables businesses to easily create and edit professional videos with no experience needed. With the VIBBIO technology integrated across the ON24 Platform, every salesperson and marketer will be able to produce video content that creates more engagement, generates first-party data, and drives personalization.

“We’re excited to welcome the talented VIBBIO team to ON24,” said Sharat Sharan, founder and CEO at ON24. “We continue to invest in building the most powerful sales and marketing platform to engage audiences in new ways and deliver greater insights across the buyer journey. VIBBIO will put video content creation in the hands of every salesperson and marketer to extend the life of their ON24 digital experiences and connect with audiences in multiple digital channels.”

B2B companies are embracing video to show the value of their brands, while more buyers rely on video content to research products and services. VIBBIO makes video creation and editing faster and easier, from recording videos to adding text, transition effects, and sound looping, as well as trimming and clip splitting. Integration of VIBBIO with the ON24 Platform will help companies make personalized, branded videos a core part of their overall sales and marketing strategies.

Customers will be able to leverage VIBBIO across their webinar, event, and personalized content marketing activities and generate more first-person data. Customers can create short and long form videos to promote digital events; reuse event content by creating highlight clips available on-demand; produce assets for social media engagement; or deliver personalized messages for landing pages or email and ABM campaigns – all within the ON24 Platform.

“ON24 is changing how companies engage their customers and generate rich insights for sales and marketing follow-up,” said Marianne Bratt Ricketts, CEO and founder of VIBBIO. “The VIBBIO team is excited to join the ON24 family and bring our technology to more organizations. With the freedom to create personalized, professional videos quickly and easily, customers will be able to expand what they can do with ON24.”

Integration of VIBBIO with the ON24 Platform is planned for availability by the end of the year. Be sure to join us at the upcoming The ON24 Experience, May 11, 2022, to learn more about VIBBIO. Register and view the agenda at ON24.com/events/ON24X. Also, for more information, visit vibbio.com.

About the Acquisition

Financial terms were not disclosed. The acquisition was funded from cash on the balance sheet and is not expected to have a material impact on ON24’s full-year 2022 financial results.

About ON24

ON24 is a leading sales and marketing platform for digital engagement, delivering insights to drive ​revenue growth. ON24 serves more than 2,100 customers worldwide, including 3 of the 5 largest global technology companies, 4 of the 5 largest US banks, 3 of the 5 largest global healthcare companies, and 3 of the 5 largest global industrial manufacturers. Through interactive webinars, virtual events, and personalized content experiences, ON24 provides a system of engagement powered by AI for businesses to scale engagement, conversions, and pipeline to drive revenue growth. The ON24 Platform supports millions of professionals a month who are totaling billions of engagement minutes per year. ON24 is headquartered in San Francisco with global offices in North America, EMEA, and APAC. For more information, visit www.ON24.com.

About VIBBIO

VIBBIO is a Scandinavian technology company on a mission to make video creation accessible, affordable, and easy for every business. Our video maker gives marketers the freedom to create professional videos on their own with no experience needed. For more information, visit vibbio.com.

Forward-Looking Statements

This document contains “forward-looking statements” under applicable securities laws. In some cases, such statements can be identified by words such as: “expect,” “convert,” “believe,” “plan,” “future,” “may,” “should,” “will,” and similar references to future periods. Forward-looking statements include express or implied statements regarding our ability to achieve our business strategies, growth, or other future events or conditions. Such statements are based on our current beliefs, expectations, and assumptions about future events or conditions, which are subject to inherent risks and uncertainties, including our ability attract new customers and expand sales to existing customers; the ability to integrate, implement and otherwise operationalize the Vibbio technology with the ON24 Platform, along with the other risks and uncertainties discussed in the filings we make from time to time with the Securities and Exchange Commission. Actual results may differ materially from those indicated in forward-looking statements, and you should not place undue reliance on them. All statements herein are based only on information currently available to us and speak only as of the date hereof. Except as required by law, we undertake no obligation to update any such statement.

© 2022 ON24, Inc. All rights reserved. ON24 and the ON24 logo are trademarks owned by ON24, Inc., and are registered in the United States Patent and Trademark Office and in other countries. The other referenced trademarks and service marks are also owned by ON24, Inc. and may be registered in some countries.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220421005222/en/

Media Contact:

Roger Villareal

press@ON24.com

Investor Contact:

Lauren Sloane

investorrelations@ON24.com

Source: ON24, Inc.

FAQ

What did ON24 acquire?

ON24 acquired VIBBIO, a cloud video software company.

How will the VIBBIO acquisition affect ON24's platform?

The acquisition will enhance ON24's capabilities to create personalized video content and improve customer engagement.

What are the financial implications of the ON24 and VIBBIO acquisition?

The acquisition was funded with cash reserves and is not expected to significantly impact ON24’s financial results for 2022.

When will the VIBBIO technology be integrated into ON24's platform?

The VIBBIO integration is planned for availability by the end of the year.

What is the expected benefit of VIBBIO for ON24's customers?

Customers will be able to create both short and long-form videos, enhancing their marketing strategies and audience engagement.