Tech Giant Amagi Takes Over Argoid AI
Amagi, a leading SaaS-based technology company, has announced the acquisition of Argoid AI, an artificial intelligence (AI) company specializing in recommendation engines and programming automation for Over-The-Top (OTT) platforms. This strategic move is part of Amagi's broader plan to leverage AI and Machine Learning (ML) to revolutionize the media and entertainment industry.
The acquisition is set to significantly boost the functionality of Amagi's product suite, particularly the Amagi NOW and Amagi CLOUDPORT offerings. By integrating Argoid's AI components into its cloud solutions, Amagi aims to enhance value for its customers.
Argoid AI has developed products that enhance content recommendations and enable real-time programming decisions, addressing key challenges in the streaming industry such as content discoverability, viewer retention, and intelligent programming. This acquisition will allow Amagi to deepen its AI-powered content programming, metadata enrichment, and recommendation engine services, paving the way for personalized streaming as part of the FAST 2.0 innovation.
Baskar Subramanian, co-founder and CEO of Amagi, expressed his belief in AI/ML's pivotal role in transforming the media and entertainment industry. He stated, "We are excited to welcome Argoid AI to the Amagi family. Their cutting-edge AI technology will enable us to deliver more personalized and engaging experiences to our customers."
Gokul Muralidharan, one of Argoid's founders, shared similar sentiments. He stated that the partnership with Amagi allows them to scale their AI-driven solutions, delivering greater customer value. Muralidharan, along with Argoid's other founders, Soundararajan Velu, and Chackaravarthy E, will join Amagi and contribute to the future roadmap.
Amagi's clients include some of the world's biggest names in media and entertainment, such as Hearst Networks UK, ABS-CBN, Astro, Cox Media Group, Dazn, Globo, Lionsgate Studio, NBCUniversal, Tastemade, and Vizio. The acquisition is expected to enhance efficiencies, monetization, and provide an engaging viewer experience in the media and entertainment industry.
The terms of the acquisition were not disclosed. However, it is clear that this move further integrates AI into Amagi's offerings, aligning with the company's strategy to leverage AI/ML for transforming the industry. Together, Amagi and Argoid aim to revolutionize how content is programmed and distributed in the digital era.
In conclusion, the acquisition of Argoid AI by Amagi marks a significant step forward in the transformation of the media and entertainment industry. With the integration of Argoid's AI technology, Amagi is poised to deliver more personalized and engaging experiences to its customers, setting a new standard for the industry.
