Digital video camera maker GoPro has acquired two video editing startups to improve its software: GoPro announced Monday that it has agreed to acquire Paris-based Stupeflix and Austin, Texas-based Vemory for a total of $105 million in cash and stock
Stupeflix is best known for Replay, an iOS video editing app that automatically generates videos with background music and transitions based on pre-selected clips. Vemory’s Splice app allows a more hands-on video editing experience optimized for mobile phones.
“Splice, Replay and GoPro will combine to deliver what we believe will be the fastest and most enjoyable mobile editing experience,” said GoPro founder and CEO Nicholas Woodman Monday. Both teams will remain in place to work on their respective apps, according to the company, with Android versions being planned for later this year. However, it’s likely that GoPro will eventually rebrand both apps to make them part of a bigger software push.
The acquisition comes at a critical time for GoPro. The company has seen its revenue decline 31% year-over-year last quarter, and warned investors that Q1 won’t be great either.
Woodman told investors during the company’s Q4 call last month that GoPro’s software is partly to blame for declining sales. “The problem is that it is still to hard to offload, access and edit GoPro content,” he said. GoPro wants to combat this by introducing better desktop video editing and management software next month.
The acquisition of Stupeflix and Vemory seems to be an attempt to also offer better video editing on mobile devices, which could in the long run be even more important than an improved desktop experience. “We believe the accessibility, speed and efficiency of mobile will make it the predominant editing platform of the future,” Woodman said Monday.