What a great Northern California business success story! Way to go Telestream and Genstar!
San Francisco-based investment fund Genstar Capital LP is buying Telestream Inc., in a deal that will close by the end of the month.
This deal comes three years after San Francisco investment fund Thoma Bravo bought Telestream, the Nevada City-based company that provides live on-demand digital tools to broadcasters. Telestream clients include CBS, BBC, CNN, FOX, CBC, Comcast, DirecTV, Time Warner, MTV, Discovery and Lifetime.
Telestream also is expanding its customer base with customers who are not in the traditional broadcast business, but who do make and use of video and streaming. It will continue to operate as an independent company with its existing management team, with the headquarters remaining in Nevada City.
Terms of the deal are not being disclosed. Both companies are privately held.
This new ownership will open Telestream to getting involved with more mergers and acquisitions, Dan Castles, Telestream’s co-founder and CEO, said in a news release.
“Genstar’s mid-market focus and deep expertise in the software industry will enable Telestream to further accelerate our growth,” he said. “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.”
Telestream has offices in San Francisco, Virginia and Germany.
“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,” Eli Weiss, a Genstar managing director, said in a news release.
Telestream’s product line includes the media processing platform Vantage, the live production and streaming software Wirecast and a new video playback and inspection tool Switch.