Sports technology and content unicorn Minute Media is acquiring VideoVerse, an Indian-American company with around 300 employees. VideoVerse has created Magnifi, a platform that helps sports rights and content owners quickly find highlights, make real-time summaries, and share short, engaging videos.
The deal is estimated to be worth over $200 million in cash and stock, though the companies did not officially reveal the price. VideoVerse competes directly with the Israeli company WSC.
To complete the acquisition, Minute Media raised tens of millions of dollars from investors at a $1.4 billion valuation. So far, the company has raised about $300 million and has over 2,000 employees.
This is Minute Media’s biggest acquisition in recent years. In March 2024, the company acquired the rights to distribute Sports Illustrated content. A few months before that, it bought STN Video, gaining the rights to distribute content from major U.S. sports leagues like the NBA, NFL, MLB, NASCAR and Formula 1.
Minute Media plans to roll out a complete solution for creating, sharing, and earning from content, while strengthening partnerships with teams, leagues, and sports associations worldwide.
Asaf Peled, Founder and CEO of Minute Media, said: “With this acquisition, Minute Media will become the world’s leading SportTech company. It elevates our capabilities to the next level in working with the world’s major leagues and expanding strategic partnerships. Unlike other companies that need to build AI capabilities from scratch, we are acquiring a company that was built from the ground up as an AI company. This gives us a large team of AI developers in a strategic market like India, significantly expanding our global technological capabilities.”
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