Banzai International, Inc., a leading end-to-end video engagement platform for marketing, and 7GC & Co. Holdings Inc., a publicly-traded special purpose acquisition company, announced they have entered into a definitive business combination agreement that will result in Banzai becoming a publicly traded company.
Upon closing of the proposed transaction, the combined company will be named Banzai International, Inc. and is expected to trade on the Nasdaq Capital Market.
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Banzai is an end-to-end video engagement solution that provides a fast, intuitive and powerful platform of marketing tools that create more intent-driven videos, webinars, virtual events, and other digital marketing campaigns. Through Banzai’s full-stack technology, marketers can leverage live and automated, no-download hosting for video marketing content such as webinars and virtual events and multi-channel targeted audience acquisition to bolster engagement and ROI. Banzai enables over 7,0001 marketing teams to create winning webinars and virtual events that increase marketing efficiency and drive additional revenue.
Acquisition of Hyros
Banzai and Hyros Inc (“Hyros”) have also entered into a merger agreement, where immediately prior to the closing of the proposed transaction between Banzai and VII, Banzai will acquire Hyros for approximately $110 million (subject to customary and negotiated adjustments) in a primarily stock transaction. Hyros’ strength is growing revenue attribution for digital marketers, helping enterprise and SMB customers get accurate sales and marketing data that they can leverage into making better ROI decisions. The acquisition is expected to enhance Banzai’s role as a full-stack marketing technology platform, expand its total addressable market and accelerate its long-term revenue growth and operational efficiency.
The integration of the Hyros multi-channel attribution and AI optimization capabilities for digital businesses is expected to significantly enhance the Banzai platform.
SOURCE: GlobeNewswire