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Good news from the Austin startup scene: Yesterday GoPro Inc. bought out Austin-based Vemory Inc, a company founded in 2012 by Hunter Powell, according to Austin Business Journal.

Vemory’s video editing app for iPhone, Splice, is what the San Mateo, California company was after in the buyout, as GoPro is finally stepping more into the world of integrated video editing, as CEO Nick Woodman called his company’s current editing process an “inconvenience,” the ABJ article mentions. GoPro has already made the big announcement on Splice’s website.

Much like the recent Deep Eddy Vodka purchase by a Kentucky company, the employees of Vemory will remain in Austin after the buyout.

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Photo via Wikimedia Commons.

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