LiveU has announced its acquisition by Francisco Partners and IGP Capital in order to accelerate the company’s global expansion.
The live IP video company has over 3,000 customers in more than 130 countries, making it the technology provider of choice for leading broadcasters, sport organisations, news agencies, online and social media.
LiveU CEO and co-founder Samuel Wasserman said: “We are delighted to have Francisco Partners, a firm with an established track record, as our new majority owner. This will allow us to focus on our long-term strategy and growth objectives, benefiting our customers, partners and employees.
“I would like to take this opportunity to thank our previous shareholders Canaan Partners, Viola Ventures, Pitango Venture Capital, and Lightspeed Venture Partners for their valued support along the way, and contribution to our success.”
Francisco Partners’ Mario Razzini added: “The broadcast and media industries are in a period of rapid change and LiveU is distinctively positioned to help customers capitalise on this opportunity with its strong market position and unmatched product innovation and performance.”