LOS ALTOS, Calif.--(BUSINESS WIRE)--Box (NYSE:BOX) today announced that it has entered into an agreement to acquire Verold, a powerful cloud-based 3D model viewer and editor to make it incredibly easy for businesses to create engaging and immersive content experiences for the web and mobile. As part of the acquisition, the Verold team will join Box, where they will work to integrate 3D conversion and previewing directly into Box’s premium enterprise content collaboration platform.
“There’s a massive opportunity today to transform the way people share and engage with their content in every industry,” said Aaron Levie, co-founder and CEO of Box. “With Verold’s technology, we’re extending our world-class content previewing and collaboration platform to interactive 3D content, opening all new-use cases across manufacturing, engineering, consumer products, and media and entertainment.”
Box continues to unveil product enhancements and partnerships to advance business transformation for its more than 45,000 organizations that represent all major industries, including manufacturing and engineering companies like GE and Avago Technologies, consumer products businesses like Procter & Gamble and Del Monte Foods, and media and entertainment firms like Discovery Communications and Legendary Pictures. In 2014, Box introduced Box for Industries, an initiative to bring tailored solutions to key industries, combining Box’s platform capabilities – workflow, compliance, and metadata – with its extensive ecosystem of partners. To further this initiative, Box acquired MedXT in October 2014 to integrate medical image viewing and support for DICOM files within Box’s Preview technology, one of the most powerful and engaging features of the Box platform that was recently enhanced.
The agreement to acquire Verold continues Box’s deep investment in developing industry-focused solutions for businesses, as well as advancing how content is previewed and experienced across the web and mobile. Founded in Toronto, Canada in 2010, Verold has pioneered development with WebGL technology to deliver powerful content creation and editing tools for interactive projects that have broad applications for information workers. For example, with Verold:
- Engineers can share 3D product designs across a global manufacturing supply chain to dramatically reduce the time-to-market for new products.
- Educators can create immersive, interactive experiences of complex models as a supplement to traditional drawings and static diagrams for engaging students.
- Marketers can create and collaborate on interactive demonstrations of products that engage consumers, making it easier to understand key features and benefits that are difficult to communicate in traditional 2D formats.
“At Verold, we believe interactive 3D web content has the power to transform a wide range of industries and applications, from manufacturing to ecommerce, and we believe the tools to build the 3D web should be broadly accessible,” said Ross McKegney, CEO, Verold. “Box’s incredible success in building an enterprise content platform that already reaches 45,000 businesses presents a one-of-a-kind opportunity for us to bring the future of 3D content to millions of people around the world. We’re thrilled to be joining Box and can’t wait to get started.”
For a gallery of creative applications of Verold’s technology as diverse as media and entertainment, architecture, and art and animation, visit Verold’s web page here.
For more details about Box’s acquisition of Verold, visit the Box blog.
Financial terms of the acquisition were not disclosed. The transaction is subject to customary closing conditions and is expected to close this spring.
About Box
Founded in 2005, Box (NYSE:BOX) is transforming the way people and organizations work so they can achieve their greatest ambitions. As the world's leading enterprise software platform for secure content collaboration, Box helps business of all sizes in every industry securely access and manage their critical information in the cloud. Box is headquartered in Los Altos, CA, with offices across the United States, Europe and Asia. To learn more about Box, visit www.box.com.
Safe Harbor for Forward-Looking Statements
This press release contains forward-looking statements about Box’s expectations, plans, intentions, and strategies, including, but not limited to statements regarding the expected completion of the acquisition and the timeframe in which it will occur, plans regarding Verold’s personnel, and expected benefits to Box and its partners and customers from completing the acquisition. Statements including words such as "anticipate", "believe", "estimate", "expect" or “future” and statements in the future tense are forward-looking statements. These forward-looking statements involve risks and uncertainties, as well as assumptions, which, if they do not fully materialize or prove incorrect, could cause Box’s results to differ materially from those expressed or implied by such forward-looking statements. The risks and uncertainties include the conditions to the closing of the deal may not be satisfied, the acquisition may not be completed successfully, the business may not be integrated successfully, as well as other risks described in Box’s documents filed with or furnished to the Securities and Exchange Commission. All forward-looking statements in this press release are based on information available to Box as of the date hereof. Box assumes no obligation to update these forward-looking statements.
