International. Telestream announced that leading private equity investment firm Genstar Capital has entered into a definitive agreement to acquire Telestream, Inc. The transaction recognizes significant growth for the Company and positions it well for the next phase of expansion and is expected to close in mid-January.
"Genstar's mid-market approach and deep expertise in the software industry will enable Telestream to further accelerate our growth. In recent years, Telestream has experienced the most significant growth," said Dan Castles, Telestream's co-founder and CEO.
Eli Weiss, Managing Director of Genstar, said: "Genstar has been following Telestream closely and this acquisition is consistent with our strategy of investing in vertical market software companies. Telestream is a leader in its market and has delivered profitable growth since its founding."
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 Vantage media processing platform, leading software in wirecast production and live streaming, and its new Switch inspection tool.
Terms of the deal were not disclosed as both companies are privately owned. Telestream will continue to operate as an independent entity with existing management teams to continue its current functions.
