Genstar Capital to Acquire Telestream to Accelerate Business Growth 08 January 2015
News
New partnership builds on Telestream's business and financial growth and positions the Company for further expansion
Telestream , a world-class provider of live and on-demand digital video tools and workflow solutions, today announced that leading private equity investment firm Genstar Capital has entered into a definitive agreement to purchase Telestream, Inc. The transaction recognizes the Company's significant growth and positions it well for the next phase of expansion and is expected to close mid-January.
"Genstar's mid-market focus and deep expertise in the software industry will enable Telestream to further accelerate our growth, said Dan Castles, Telestreams co-founder and CEO. "Over the past several years, Telestream has experienced its most significant growth. 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.
Genstar has been following Telestream closely and this acquisition is consistent with our strategy of investing in vertical market software companies, said Eli Weiss, a Managing Director of Genstar. Telestream is a leader in its market and has posted profitable growth since its founding. As even more content is generated and viewed on more devices, we believe the company will continue its demonstrated growth trajectory, and we will support Telestream's experienced and successful management team to expand organic growth via new product releases and pursue add-on acquisitions.
Telestream's growth and profitability has consistently outpaced the market and has been achieved both organically and through strategic acquisitions. The Company's product line includes the premiere media processing platform Vantage, the leading live production and streaming software Wirecast and its new video playback and inspection tool Switch.
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. Headquarters will remain in Nevada City, California with offices in Virginia, San Francisco Bay Area and Germany. For more information about Telestream, visit http://www.telestream.net.
About Telestream
Telestream provides world-class live and on-demand digital video tools and workflow solutions that allow consumers and businesses to transform video on the desktop and across the enterprise. Many of the world's most demanding media and entertainment companies, such as CBS, BBC, CNN, FOX, CBC, Comcast, Direct TV, Time Warner, MTV, Discovery, and Lifetime, as well as a growing number of users in a broad range of business environments, rely on Telestream products to streamline operations, reach broader audiences and generate more revenue from their media. These companies choose to work with Telestream as they know they will get a trusted and highly skilled technical partner. Telestream products span the entire digital media lifecycle, including video capture and ingest; live and on-demand encoding and transcoding; playout, delivery, and live streaming; as well as management and automation of the entire workflow. The company also partners closely with the industry's leading digital media companies across the entire digital media lifecycle, from consumer to enterprise. Telestream corporate headquarters are located in Nevada City, California. The company is privately held. For more information, visit www.telestream.net.
About Genstar Capital
Genstar Capital (www.gencap.com) is a leading private equity firm that has been actively investing in high quality companies for more than 20 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of operating executives and strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar manages funds with total capital commitments of over $3 billion and targets investments focused on selected sectors within the financial services, software, industrial technology, and healthcare industries.
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Genstar Capital to Acquire Telestream to Accelerate Business Growth 08 January 2015
