Bambuser completes the acquisition of Viddget and receives order from FirstBank

Bambuser completes the acquisition of the business from Viddget AB and Viddget Holding AB. The acquisition relates to a "one-to-one video chat solution", including intellectual property rights, agreements and employees. Furthermore, the company has received an order from FirstBank, which currently is Viddget’s largest customer.

Viddget is a video solution that enables a quick and easy online video meeting without the need for any user installation. Viddget's customers today are mainly found in banking and finance, where Viddget is used to offer the bank's customers a personal meeting online directly from the bank's website or via pre-booked meetings. Viddget's strength lies in the fact that the solution is initially adapted to work with other systems and services such as business systems, ordering systems, identification and digital signing. Viddget can therefore offer an entire digital customer journey where registration, ordering and signing takes place, simply a bank branch online without travel time or queues.

“I am very happy about the acquisition of Viddget. Their solutions fit in well with our long-term ambition to broaden Bambuser’s offering and become a globally leading video house. Equally important are the skills and experiences of the people who join us through this acquisition” says Maryam Ghahremani, CEO of Bambuser.

FirstBank is Viddget's largest customer and uses Viddget for new acquisitions of consumer customers and additional sales. Today, a customer can obtain a new credit card, open a bank account or apply for a consumer loan through Viddget. Bambuser has now received an order from Firstbank, to achieve a further improved customer journey through Viddget. The big advantage for Firstbank is being able to offer its customers a digital banking experience from A to Z.

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Västra Hamnen Corporate Finance AB | tel: 040-20 02 50 | e-mail: ca@vhcorp.se

Contact information

Maryam Ghahremani, CEO | tel: + 46 708 720 266 | e-mail: maryam@bambuser.com 

or visit bambuser.com/ir

About Bambuser AB

Bambuser is a Swedish software company that offers B2B solutions for live video. Since 2007, the Company has developed a platform for interactive live video broadcasts enabling live video streaming from mobile phones and web cams to the Internet. The breakthrough occurred in 2010, when the Company’s service was used to report the unrest in Egypt during the parliamentary elections. The following year, videos were produced via Bambuser and used in several television broadcasts throughout the world during the Arab Spring.

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Quotes

I am very happy about the acquisition of Viddget. Their solutions fit in well with our long-term ambition to broaden Bambuser’s offering and become a globally leading video house. Equally important are the skills and experiences of the people who join us through this acquisition.
Maryam Ghahermani, CEO