US tech giant Microsoft has acquired Brisbane-based video editing software start-up Clipchamp, which was founded by a group of former SAP employees in 2013, in a deal that will see its founders move to work for its Microsoft 365 division.

Clipchamp makes simple-to-use video editing software, reminiscent of Canva’s document design tools, and had attracted $14.2 million in external funding, with Steve Baxter’s Transition Level Investments and associated investment syndicate TEN13 the local investors likely to be breaking open the champagne.