Live video and streaming specialist Brandlive announced yesterday that it had acquired Notified‘s virtual events and webinar business. The companies did not disclose any financial details of the deal.
Notified will not completely abandon virtual events. It will retain its IR Event Platform, designed explicitly for earnings calls and other investor relations use cases.
Most Notified’s business comes from its public relations and investor relations tools and services. It is well known for its GlobeNewswire press distribution platform. Divesting from servicing clients who are creating generic virtual event experiences will not come as a surprise.
This curious product split suggests that Notified sees value in this niche market. This reinforces what Mark Loehr, the CEO of OpenExchange, portrayed as a very profitable niche market for virtual event platforms.
This acquisition marks another twist in the rollercoaster ride virtual event platforms have been on since the start of the Covid pandemic. Notified had acquired Hubb in August 2021 at the peak of investor interest in virtual event platforms. Since then, the Hubb platform has been integrated and marketed as a Notified Event Cloud.
In a statement, Notified said this move allows it to “enhance its investor relations and public relations focus.” The company said it is investing in innovative technologies, including artificial intelligence (AI), that it sees as creating more value for clients. It recently partnered with IR Magazine to create a report on AI in investor relations.
“After careful consideration, it’s clear Brandlive is the best-suited partner to continue servicing our virtual events and webinar clients. Their commitment to creative, TV-style broadcasts mirrors our heritage of premium, customizable streaming services for marketing-led events, webinars and company town halls,” said Nimesh Davé, president of Notified.
Brandlive will take over the webcasting and virtual event platforms. It will as absorb the associated development, client support and account management resources. Brandlive and Notified said they are committed to ensuring a seamless transition for existing virtual events and webinar clients.
“We’re thrilled to welcome Notified’s virtual events and webinar customers and team to the Brandlive family. There won’t be a change to the team that supports you or the products you use and love.” said Brandlive CEO Sam Kolbert-Hyle.