Audinate to Spend Up to US$28M to Acquire AI-Powered Iris Studio Platform
Audinate Group Limited is set to acquire US-based Iris Studio Inc for up to US$28 million, enhancing its cloud-based video production and remote camera control capabilities. This strategic move aims to integrate Iris’s AI-powered platform with Audinate’s Dante ecosystem, targeting growth in video and AV control sectors.
- Acquisition of Iris Studio for up to US$28 million
- Strengthens Audinate’s cloud-based video and AV control offerings
- Iris platform features AI-powered remote camera control and SaaS subscription model
- Transaction funded by cash reserves and share issuance
- Iris team to join Audinate, with integration planned by mid-2025
Strategic Expansion into Cloud Video Production
Audinate Group Limited (ASX – AD8), renowned for its Dante media networking platform, has announced a significant acquisition that broadens its footprint in the audio-visual technology space. The company will acquire Iris Studio Inc, a US-based pioneer in AI-powered, cloud-based remote video production, for a total consideration of up to US$28 million. This move marks a deliberate step to enhance Audinate’s video platform capabilities and accelerate its vision for interoperable control and management of AV devices.
The Iris platform is a control-first video production software-as-a-service (SaaS) solution that enables users to remotely access, manage, and monitor cameras and other AV devices through a web browser interface. Its advanced features include AI auto-tracking, remote pan-tilt-zoom (PTZ) control, colour correction, and cloud recording, positioning it as a flexible and intelligent tool for AV professionals.
Complementing the Dante Ecosystem
Audinate’s acquisition aligns closely with its existing Dante ecosystem, which powers millions of AV devices globally. By integrating Iris’s remote troubleshooting and monitoring capabilities with Dante Director, Audinate’s cloud-based control platform, the company aims to offer a seamless, scalable AV control experience. This integration is expected to benefit a wide range of verticals including corporate, entertainment, sports, government, and education sectors.
Moreover, Iris’s platform is manufacturer agnostic and already partnered with 14 PTZ camera original equipment manufacturers (OEMs), which could accelerate market adoption. Beyond cameras, the software’s applicability extends to encoders, decoders, and vision mixers, eliminating the need for external hardware controllers and enabling native cloud-based control.
Financial and Operational Details
The acquisition deal includes an upfront cash payment of US$20 million, with an additional contingent cash and equity component of up to US$8 million payable over three years, contingent on revenue and service performance milestones. Funding will come from Audinate’s existing cash reserves and the issuance of new shares, leaving the company with a robust net cash position of approximately A$78 million post-transaction.
The Iris team will join Audinate post-completion, expected by mid-July 2025, and will collaborate closely with Audinate’s existing teams to further develop and scale the Iris platform. Audinate anticipates that Iris will contribute materially to free cash flow within three to four years, depending on market adoption and execution.
Looking Ahead
Audinate’s CEO Aidan Williams highlighted the strategic importance of the acquisition, emphasizing how Iris’s capabilities complement the Dante platform and enhance value for AV professionals worldwide. Iris’s CEO Noah Johnson echoed this optimism, noting that the partnership will accelerate their roadmap and expand their vision for intelligent, accessible AV device control.
This acquisition signals Audinate’s commitment to expanding its leadership in AV-over-IP solutions and cloud-based AV management, positioning the company well for emerging trends in remote production and device interoperability.
Bottom Line?
Audinate’s Iris acquisition sets the stage for a new era of cloud-based AV control, but execution and market adoption will be key to unlocking its full potential.
Questions in the middle?
- How quickly will Iris’s platform gain traction within Audinate’s existing customer base?
- What are the specific revenue targets tied to the contingent payments, and how achievable are they?
- How will Audinate integrate Iris’s technology with its Dante ecosystem without disrupting current operations?
