Telestream Acquired by Genstar Capital
Genstar Capital has entered into a definitive agreement to purchase live/VOD digital video tools and workflow solutions provider Telestream. Terms of the deal, which is expected to close mid-January, were not disclosed as both companies are privately held.
“Genstar’s mid-market focus and deep expertise in the software industry will enable Telestream to further accelerate our growth,” says Dan Castles, Telestream’s 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.”
Telestream’s product line includes media processing platform Vantage, live production and streaming software Wirecast and its new video playback and inspection tool Switch. 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.
“Genstar has been following Telestream closely and this acquisition is consistent with our strategy of investing in vertical market software companies,” says 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.”