Overview
- Minute Media announced the purchase of Mumbai-based VideoVerse, which builds Magnifi, an AI platform that detects key moments and auto-generates real-time sports highlights.
- Financial terms were not disclosed, with reports citing a range from roughly $200–$250 million to Rs 2,500 crore ($283 million), and the company calling it its largest acquisition to date.
- VideoVerse investors are exiting fully in the cash-and-stock transaction, with the founder telling Inc42 that angels realized 10–20x returns and institutions reported 60–70% IRR.
- Minute Media plans to integrate Magnifi across its properties and partner network of nearly 500 publishers, target additional U.S. leagues, and bolster the STN Video platform.
- VideoVerse will continue operating independently, selling its usage-based SaaS tools whose features include multilingual subtitling, metadata and thumbnail automation, and rules-based highlight packaging for clients such as FIFA+ and IPL.