Bynder has announced it has entered into a definitive agreement to acquire Shutterstock’s digital asset management business, known as Webdam. 

The company explained that marketers today are producing more digital content than ever before, and distributing it across an increasingly complex web of platforms and channels. As a result, digital asset management has moved to the heart of marketing technology where it must scale to support activities across and beyond the enterprise. It claimed that the acquisition of Webdam “highlights Bynder’s commitment to bring best-in-class DAM to brand-driven businesses of all sizes, globally. Blending the industry knowledge, technological innovation, and geographic strengths of the two companies—including heavy investments in artificial intelligence and integrations—will allow Bynder to better address evolving customer needs.”

“Businesses are racing to keep up with the digital economy, in which digital content has become the storefront for your brand. Marketers and creatives play a critical role in developing these digital experiences, so the necessity for DAM is only accelerating,” said Chris Hall, founder and CEO of Bynder. “Bynder and Webdam are two of the top digital asset management platforms on the market. We’re ready to join forces with a fellow leader in the space and develop an unparalleled DAM that businesses integrate at the core of their operations.”

Image source: Shutterstock

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