Terms weren't disclosed.
“Clipchamp is an in-browser video creation and editing experience founded in 2013 with a mission to empower anyone to tell stories worth sharing,” Chris Prately, vice president of Microsoft’s Office Group wrote on the company blog.
“Clipchamp’s technical approach is to combine the simplicity of a web app with the ability to process video using the full computing power of a PC with graphics processing unit (GPU) acceleration, something that was formerly limited to traditional video applications.”
So what’s the connection to Redmond, Wash.-based Microsoft?
“As a web app that uses the full power of your PC, Clipchamp is a natural fit to extend the cloud-powered productivity experiences in Microsoft 365 for individuals, families, schools, and businesses,” Prately said.
“It’s also a great fit for Microsoft Windows, which is a platform for boundless creativity,” he said.
The news didn’t affect Microsoft stock, which recently on Wednesday at $299.11, down 0.4% at last check. It has jumped 29% in the last six months amid strong financial performance.
Morningstar analyst Dan Romanoff likes the company. “Wide-moat Microsoft continues to benefit from an ongoing wave of digital transformation, which helped the company once again drive material upside,” he wrote after the company’s latest earnings report in July.
“Microsoft continues to use its dominant position of on-premises architecture to allow customers to move to the cloud easily and at their own pace, which we believe will continue over the next five years.”
Romanoff puts fair value for the stock at $325.