Private equity investment firm Genstar Capital has entered into a definitive agreement to purchase Telestream, provider of live and on-demand digital video tools and workflow solutions.
Telestream products range from desktop components and cross-platform applications to fully-automated digital media transcoding and workflow systems. It will continue to operate as an independent entity with existing management teams continuing their current roles
“Genstar’s mid-market focus and deep expertise in the software industry will enable Telestream to further accelerate our growth,” said Dan Castles (pictured), 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.”
Eli Weiss, a managing director of Genstar added: “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 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.”
Genstar Capital has been investing in companies for more than 20 years. Based in San Francisco, the private equity firm manages funds with total capital commitments of over $3 billion and targets investments focused on sectors within the financial services, software, industrial technology, and healthcare industries.