US company buys Latvian tech success story

American tech company Prezi announced May 16 it was buying Infogram, one of Latvia's most notable startup success stories of recent years. The combined company will make a play for "the future of visual communication" it said in a statement.

Prezi is a visual presentation platform whereas Infogram is a web-based data visualization company. Infogram specializes in charts and infographics for customers who need to quickly and effectively convey complex ideas.

This is Prezi’s first acquisition. The amount paid for Infogram and the financial terms of the transaction were not disclosed.

“Prezi was inspired to unite with Infogram because of our shared mission to help people make better decisions by providing more effective tools for visual communication,” said Peter Arvai, Prezi’s CEO and co-founder. “If a picture is worth a thousand words, then the data that backs it up makes it credible. And without a story, data falls flat in effectiveness.”

“Joining forces with Prezi means our mission to bring beautiful and informative infographics and other data visualization technologies to more users will happen even faster,” said Mikko Järvenpää, Infogram’s CEO, adding that the company would "continue our work as a world leader in data visualization to create more powerful, delightful and useful products than ever before.”

Founded in 2012 and based in Latvia, Infogram has emerged as an innovator in the area of data visualization and has over 3 million users, who have created over 5 million charts and infographics that have been viewed over 1.5 billion times.

Prezi also has European roots, being the most successful startup to have incubated in Hungary before expanding from Budapest to San Francisco and Mexico City.

Infogram will become a wholly-owned subsidiary of Prezi and will remain in Latvia. Prezi will continue to invest in research and development of Infogram and will create a Data Visualization Center of Excellence in Latvia, journalists were told at the announcement of the deal.

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