Digimarc Corporation finalizes acquisition of EVRYTHNG Ltd
Digimarc Corporation, creator of Digimarc watermarks that are driving the next generation of digital identification and detection-based solutions, announced today it has successfully completed its previously announced acquisition of the Product Cloud company EVRYTHNG Ltd, based in London, UK.
As EVRYTHNG becomes part of Digimarc, it enables a complete solution set for customers, combining the best form of identification with the best cloud platform for gaining and managing the intelligence unlocked by that identification of objects.
“Not only did this acquisition makes financial sense, with a high-margin business, at a good price with upside and downside protection, but also good strategic sense,” explains Digimarc CEO Riley McCormack. “This acquisition brings Digimarc new potential in the product cloud, powers up our ability to sell stand-alone solutions, and provides future cross-selling opportunities by providing more on-ramps to our dual networks. In addition, we can leverage the complementarity of our geographic presence, expanding our business and hiring and retaining the best talent globally.”
From enabling more sustainable, more transparent, and more secure supply chains to empowering consumers to verify the authenticity of products and recyclability of its packaging, combining Digimarc’s unique means of identification with the EVRYTHNG Product Cloud® makes it possible to gather and apply traceability data from across the product lifecycle, unlocking end-to-end visibility and authenticity through item-level, real-time intelligence and analytics.
The acquisition expands the geographic footprint for both companies. EVRYTHNG, based in London with offices in New York, Beijing, Minsk, and Lausanne is finding much success in North America. Conversely, Digimarc, based in the Portland, Oregon area, has a growing customer base across Europe.