Canto, a frontrunner in digital asset management software, has acquired MerlinOne, an innovative DAM firm specialising in AI-centric solutions.
The merger intends to augment Canto’s position as a dominant player in the digital asset management sector. By assimilating MerlinOne’s groundbreaking AI capabilities with Canto’s eminent DAM platform, the partnership aims to revolutionise the industry, offering faster and more efficient ways to organise and search digital content.
Founded in 1988, MerlinOne stands as a pioneer in AI-driven digital asset management. Boasting esteemed clients such as NASA, The White House, and CBS, their product suite is rich with superior AI search and video capabilities, catering primarily to media and publishing entities. On the other hand, Canto, with its expansive customer base, including top-notch brands, remains a stalwart in the DAM software domain.
Post-acquisition, MerlinOne’s CEO, David Tenenbaum, will wear the hat of Chief AI Scientist at Canto, spearheading the brand-new Artificial Intelligence Center of Excellence. This pivotal move reiterates Canto’s dedication to pushing the envelope in AI-powered digital asset management.
Forecasts from market research indicate that by 2030, the DAM market will balloon to $9.12bn, highlighting an impressive growth trajectory of nearly 18.1% from 2023 to 2030. This Canto-MerlinOne partnership reflects a strategic step in Canto’s journey, with a core focus on introducing pioneering software solutions to bolster collaboration, nurture productivity, and eradicate manual bottlenecks impeding creativity.
Canto CEO Wain Kellum said, “The acquisition of MerlinOne is a game changer. 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.”
MerlinOne CEO David Tenenbaum stated, “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. By joining the talented Canto team, we’ll take that mission to the next level and revolutionise what’s possible in the digital asset management industry. It’s a very exciting opportunity.”
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