Acquisition brings together Canto's powerful digital asset management platform and MerlinOne's groundbreaking AI technology
ATLANTA, GA / ACCESSWIRE / August 8, 2023 / Canto, a leading provider of digital asset management (DAM) software, today announced that it has acquired MerlinOne, a Massachusetts-based DAM company that has pioneered innovative AI-centric solutions to organize and find digital content. The purchase is a part of Canto's ongoing strategy to strengthen its position as the leader in the digital asset management space.
The combination of MerlinOne's powerful AI features with Canto's industry-leading digital asset management platform will be transformative for customers and the industry. While organizations that utilize DAM platforms to manage their digital assets have always seen improved content ROI and an ability to get to market faster, searching for those assets has traditionally relied on the input and accuracy of metadata. With Canto's acquisition of MerlinOne, advanced AI and visual search capabilities will make organizing, finding, and distributing brand assets faster than ever before, even if the assets have scarce or no textual metadata. Companies will now be able to significantly accelerate campaign velocity and productivity at every stage of the content lifecycle.
"The acquisition of MerlinOne is a game changer," said Wain Kellum, CEO of Canto. "Bringing their innovative technology and talented team under the Canto umbrella instantly allows us to expand into new markets, exceed our growth objectives, and improve the way our customers manage their vast digital libraries."
Founded in 1988, MerlinOne has been at the forefront of AI-centric digital asset management, with a roster of prominent customers such as NASA, The White House, CBS, The Make-A-Wish Foundation, and the Associated Press. With a variety of products that leverage superior AI search and video capabilities, they specialize in digital asset management solutions for media and publishing organizations.
As a part of this acquisition, MerlinOne CEO David Tenenbaum will be joining Canto as Chief AI Scientist to lead AI strategy. In this role, David will be leading a newly created Artificial Intelligence Center of Excellence at Canto, signifying the company's commitment to enhancing AI advancements in the digital asset management space.
"We started MerlinOne 30 years ago with the simple mission of helping businesses manage their immense digital libraries, and I'm so proud of our team, what we've created, and what we continue to create," said David Tenenbaum, CEO at MerlinOne. "By joining the talented Canto team, we'll take that mission to the next level and revolutionize what's possible in the digital asset management industry. It's a very exciting opportunity."
Market research projects that the digital asset management (DAM) market will reach $9.12 billion by 2030, registering the highest rate of growth of nearly 18.1% from 2023 to 2030.1 This announcement underscores Canto's growth strategy, with a focus on developing innovative software solutions that inspire collaboration, foster productivity, and eliminate the manual processes that stifle creativity.
1 Facts & Factors: Digital Asset Management (DAM) Market Size, Share Global Analysis Report, 2023 - 2030
About Canto:
Canto is a leader in digital asset management (DAM) software, with customers that include many of today's top brands. This simple yet intuitive solution gives organizations a visual way to centralize, organize, and share all their digital brand assets, empowering them to save valuable time and gain a competitive edge. Canto's DAM solution has wide applicability to a variety of industry verticals, including retail, manufacturing, education, transportation, hospitality, nonprofit, healthcare, food and beverage, technology and more. Canto's corporate headquarters is in Atlanta, with offices in Berlin and Frankfurt, Germany. For more information, visit www.canto.com.
About MerlinOne:
MerlinOne, Inc., is a digital asset management (DAM) and AI visual search solutions company. Founded in 1988 as a pioneer in digital imaging transmission and archiving solutions, MerlinOne has evolved into a leading vendor of DAM solutions serving a wide variety of industries including media and entertainment, higher education, healthcare, government, non-profit, and more. MerlinOne's new and innovative AI visual search technology is leading a revolution in discoverability of visual assets such as video, images, and graphics. MerlinOne, Inc. is a privately owned company based in Quincy, MA with a corporate presence in the United States, Canada, and Europe.
Media Contact:
Erica Gunn
egunn@canto.com
Contact Information
Erica Gunn
Chief Marketing Officer
egunn@canto.com
SOURCE: Canto
https://www.accesswire.com/772737/Canto-Acquires-MerlinOne
