Verbit Acquires VITAC Captioning Platform
Verbit, a provider of an AI-powered transcription platform, has purchased VITAC, a provider of captioning products and solutions. The purchase, Verbit says, will position it as the “number one player in the professional transcription and captioning market across legal, media, education, government and corporate sectors.”
Together with VITAC’s 35 years of captioning expertise — including as customers every broadcast company, most cable networks, program producers, corporations, educational institutions, and government agencies — Verbit can now offer a deeper portfolio of solutions. The enhanced transcription and captioning platform will feature industry experts, AI-based tools, established integrations with video cloud platforms, and support to translate transcription into any language. The combined company will also provide dedicated client success teams to expand their client service.
“We are thrilled to further strengthen our position as the market leader in the transcription and captioning industries in partnership with VITAC. This opportunity allows us to expand our offerings for the media vertical and provide advanced transcription capabilities to our current education, legal, and corporate customers,” said Tom Livne, CEO and founder of Verbit. “The combined company will harness decades of transcription and captioning experience to offer customers a best-in-class solution based on our proven technology. We will continue to invest in our platforms, top talent, and domain expertise to evolve and develop our solutions to meet our customers’ dynamic needs.”
“We’re delighted to join the Verbit family and bolster their leading position in the transcription industry globally,” said Chris Crowell, CEO of VITAC. “We’ve been incredibly impressed with Verbit’s rapid growth and technology advantages, and together we look forward to serving more of this dynamic industry with customers across all vertical segments.”