The combination will provide customers with best-in-class products, strengthening OpenExchange’s position as a leader in virtual communications solutions

OpenExchange Inc., a leading provider of video-enabled virtual event solutions, announced its intent to acquire Veracast Communications, Inc., which delivers webcast and live streaming solutions to the financial services, biotech, and legal industries. Veracast’s complementary product offerings for webcasting and live streaming combined with OpenExchange’s existing video conference solutions, and its ability to provide concierge managed services, will create an increasingly robust product offering.

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“We are excited to bring together two client-focused organizations to provide a breadth of virtual meeting and virtual conferencing services to meet our clients’ global corporate communications needs”

The combination of the two platforms is expected to result in OpenExchange managing over 50,000 virtual meetings and live events per quarter around the globe. Veracast’s purpose-built webcasting platform will add a high-quality interactive livestreaming solution to the options clients may utilize to match the particular needs of their event.

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“Delivering excellence through the pandemic has been a challenge for all companies,” said CEO Mark Loehr. “Veracast’s reputation for ensuring all aspects of virtual events go perfectly has created a devoted clientele. Additionally, their customized feature set matches the needs of sophisticated financial institutions.”

“We are excited to bring together two client-focused organizations to provide a breadth of virtual meeting and virtual conferencing services to meet our clients’ global corporate communications needs,” said Veracast founder Thomas Yong. “With Open Exchange’s extensive network of professional video specialists to support interactive one-on-one meetings, live streaming and video showcase offerings coupled with Veracast’s proven webcast production expertise, our clients will have access to best-in-class meeting solutions to support the entire lifecycle of their corporate capital raising efforts.”

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