The FeedRoom, a New York-based provider of online video solutions for media companies, has acquired ClearStory Systems, a provider of digital asset management software. No financial terms were disclosed. The FeedRoom has raised over $65 million in venture capital and debt financing, with current shareholders including BEV Capital, NewSpring Capital and Velocity Equity Partners. ClearStory had raised an undisclosed amount of capital from SCP Partners.
The FeedRoom, the leading provider of online video solutions for media companies, corporations and government agencies, today announced that it has completed the acquisition of ClearStory Systems, an award-winning digital asset management (DAM) software provider.
ClearStory’s solutions provide advanced capabilities for managing a full range of digital marketing assets including graphics, documents, and multimedia. The combination of ClearStory Systems’ powerful open-architecture DAM platform, ActiveMedia 7.5, with The FeedRoom’s 4.0 Enterprise Video Platform (EVP) will enable the world’s largest marketing and media organizations to integrate, manage and deliver their digital media assets in a single cost-effective system.
“ClearStory has established industry leadership in the efficient application of DAM solutions in the corporate marketing sector, including some of the largest Fortune 500 companies.” said Mark Portu, President and CEO of The FeedRoom. “As companies continue to accelerate the application of rich media in their online marketing efforts, the seamless integration of ClearStory’s advanced DAM capabilities into the FeedRoom 4.0 EVP will be a huge win for our mutual customers, allowing them to dramatically improve the efficiency of their operations.”
Unveiled last month at the 2008 Forrester Consumer Forum, FeedRoom 4.0 EVP enables companies to more easily create, integrate and manage compelling online video solutions. Preparing to mark a decade as a leader in the online video sector, the company’s acquisition of ClearStory Systems further expands the EVP’s ability to integrate online video and digital media workflows for a complete, enterprise-class solution.
“ClearStory and The FeedRoom share a common vision that customers can dramatically improve the performance and sophistication of their online marketing campaigns, retail marketing portals, brand programs, and related initiatives,” said Michael Lam, ClearStory president. “Video has become a top priority for our customers and the addition of FeedRoom’s proven capabilities will immediately address their demand.” Mr. Lam will continue to manage the ClearStory business for The FeedRoom.
ClearStory’s ActiveMedia 7.5, the newest release of its digital asset management system, was built on an enterprise-class business process management (BPM) engine. ActiveMedia with Workflow Automation extends the capability and value of ClearStory’s ActiveMedia DAM solution beyond traditional transformation, cataloging and repository services, to manage digital media projects, creative workflow, review and approval; and automate system events, asset management functions, and email notifications.
About The FeedRoom
The FeedRoom provides online video solutions which enable organizations of all kinds to optimize their communications and profits through video. An industry pioneer, The FeedRoom delivers SaaS (Software as a Service) offerings and related services to some of the world’s leading organizations including Barnes & Noble, ESPN, Hewlett-Packard, Intel, McGraw-Hill, MetLife, Yum! Brands, Coldwell Banker, General Motors, The Pentagon, and The US Marine Corps. The FeedRoom has offices in New York, Boston, San Francisco, Seattle and Toronto. For more information, please visit www.Feedroom.com.