Telestream, a Genstar Capital company, and a leading provider of digital media tools and workflow solutions, has announced a partnership with Fortive to integrate Tektronix Video, a global player in video test, monitoring and quality assurance solutions for the broadcast and digital media markets, into the Telestream business. The terms of the deal were not disclosed as Telestream is privately held, but the transaction results in Genstar Capital partnering with Fortive in a co-ownership arrangement.
Founded in 1946 as part of Tektronix Inc, Tektronix Video is headquartered in Beaverton, Oregon, with research & development and engineering facilities in Bangalore, India. The company has sales operations in North America, Europe, Middle East, Asia, and Latin America.
Scott Puopolo, CEO of Telestream will now be CEO of the combined company. One of the pillars of Telestream’s corporate strategy has been to combine businesses that extend its ability to positively impact the Quality of Service and Quality of Experience elements of customer operations.
“Tektronix Video is just such an entity. However, it is not just about product complementarity,” explained Puopolo.
“Combining Tektronix Video with Telestream brings more extensive sales reach and a very strong presence in additional countries and markets, as well as extensive channel relationships through which we can sell our entire portfolio. Further, Tektronix Video has industry leading product management and R&D skills that can augment our talent and extend Telestream’s capacity for innovation. Finally, with engineering talent in both Beaverton and Bangalore India, we will benefit from significant additional resources to both innovate and deliver to the needs of our customers.”
“Our investment thesis will continue to view Telestream as a growth-oriented platform company for consolidation of innovative software companies in the video technology ecosystem,” commented Eli Weiss, Managing Director at Genstar Capital. “Our partnership with Fortive will give us even more capacity to pursue further consolidation in the future.”