VITAC is proud to announce that it has become part of Verbit, the world’s leading interactive transcription and captioning platform. The combination means increased accessibility offerings, enhanced solutions, and greater customer support and service for clients in the legal, media, education, government, and corporate sectors around the world.
Read the full press release below.
Verbit Announces Acquisition of VITAC to Become World’s Largest AI-Powered Transcription and Captioning Platform
Acquisition of industry leading media captioning company, VITAC, positions Verbit as the top transcription and captioning player across all sectors
May 11, 2021 – New York – Verbit, the world’s largest AI-powered transcription platform, today announced the acquisition of VITAC, the largest provider of captioning products and solutions in North America. This acquisition will position Verbit as the number one player in the professional transcription and captioning market across legal, media, education, government, and corporate sectors.
Together with VITAC’s established 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 already superior 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.”
With the largest professional transcription and captioning workforce in the industry, Verbit will drive forward its mission to make all video and audio content accessible to everyone through its high-quality captioning and transcription capabilities.
“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.”
Baird served as the exclusive financial advisor to VITAC and Gores.
Verbit is the world’s leading interactive transcription and captioning solution. It utilizes in-house, AI-based technology to transform both live and recorded video and audio into +99% accurate captions and transcripts for the education, legal, media, and enterprise industries. The combination of Verbit’s in-house Automated Speech Recognition (ASR) technology and human transcribers offers high-quality, word-for-word, interactive and collaborative transcripts and captions. Verbit’s customizable solution helps customers meets ADA, FCC, and privacy compliance requirements to increase operational capacity, accessibility and serve customers and students. The company is based in New York, San Francisco, Tel Aviv, and Kyiv and has more than 22,000 transcribers and 160+ employees around the world. To learn more, visit: https://verbit.ai.
VITAC is the largest provider of captioning products and services in the United States. The company’s commitment to communication accessibility is evidenced by its talented captioners, technical expertise, and exceptional client service. Responsible for captioning hundreds of thousands of programming hours each year, its customers include every broadcast company and most cable networks, as well as Fortune 1000 Corporations, educational institutions, and government agencies.
VITAC’s comprehensive service offerings enable customers to meet requirements as mandated by the Federal Communications Committee (FCC), the Americans with Disabilities Act (ADA), and Section 508 of the Rehabilitation Act, among others. The company was incorporated in 1986 and is headquartered in Greenwood Village, Colorado. For more information, visit: https://vitac.com.