News Business

Telestream grabs Anystream

17 August 2010
Telestream grabs Anystream

Telestream has executed a definitive agreement to acquire the business operations of the Anystream division of Grab Networks.

“The combination will further extend Telestream’s position in the software video transcoding market and significantly enhance the company’s ability to provide enterprise-class, file-based and live encoding solutions across the globe,” said a company statement.

Once completed, the transaction will add a world-class engineering and support team, an East Coast office, and a key account sales team to Telestream’s worldwide business.

“This is a great opportunity for Telestream to accelerate its momentum helping media and entertainment companies unleash the promise of their media assets through next-generation enterprise-class solutions designed for complex multi-format workflows. Anystream’s customer base will benefit not only from Telestream’s broad end-to-end digital media tools and workflow solutions, but also from its strategic focus on transcoding,” said Dan Castles, CEO of Telestream. “This transaction is very synergistic and truly a win-win for customers, employees, and partners alike.”

“This transaction further helps the company leverage a growing market,” remarked Michelle Abraham, principal analyst with In-Stat. In-Stat expects the worldwide multiformat transcoding market to grow from $117m to $297m in 2014, according to the report “Worldwide Market for Enterprise-Class Multiformat Transcoders" issued August 3, 2010.

The transaction is subject to the usual closing conditions, and the terms of the deal were not disclosed as both companies are closely-held private entities.

Similar stories