Verbit Acquires Automatic Sync Technologies
Verbit, a transcription and captioning company, has acquired Automatic Sync Technologies, providers of a transcription solution for the education and government sectors. Financial terms of the deal were not disclosed.
The acquisition furthers Verbit's market position in the U.S. transcription and captioning space and accelerates Verbit's penetration into the government arena.
"Together with Automatic Sync Technologies, Verbit can create greater impact by bringing its high-quality transcription to more students, professionals, and consumers," said Tom Livne, CEO and founder of Verbit, in a statement. "I'm thrilled to have such a strongly recognized team and product join us on this journey."
"We are excited to join the Verbit family. Their vision for the present and future of video accessibility and the planned investment in us will empower us to bring the vision of why we started this company 18 years ago to life," said Kevin Erler, CEO of Automatic Sync Technologies, in a statement. "Now we can invest more aggressively in our product and make our roadmap and vision into realities."
Verbit acquired VITAC, a specialist in real-time captioning and transcription, in May.