Telestream, an on-demand digital video tools and workflow solutions provider is being acquired by San Francisco-based private equity investment firm Genstar. No financial details were released but the transaction is expected to close by mid-January. This is Genstars first investment in the digital media sector. Terms of the deal were not disclosed as both companies […]
Telestream, an on-demand digital video tools and workflow solutions provider is being acquired by San Francisco-based private equity investment firm Genstar. No financial details were released but the transaction is expected to close by mid-January. This is Genstars first investment in the digital media sector.
Terms of the deal were not disclosed as both companies are privately held. Telestream will continue to operate as an independent entity with existing management teams continuing their current roles. Its headquarters will remain in Nevada City, California, with offices in Virginia, San Francisco Bay Area and Germany.
Commenting on the buyout, Dan Castles, Co-founder and CEO of Telestream said: We look forward to our new partnership with Genstar as we increase our investment in existing products, accelerate our reach into new customer verticals and fuel our next phase of development through additional M&A activity. Our product portfolio and business models are well suited for the Genstar environment.
He added that the deal will not impact Telestreams day-to-day functions as company will be led by the same management team and host the same product portfolio and strategy.
Telestream has a long history of video encoding/transcoding, live streaming and video capture markets, with products such as Vantage transcoding and workflow automation systems.
