Telestream has continued its recent spate of acquisitions, taking full control of Masstech.
This is Telestream’s 10th acquisition, following its recent deal to acquire EcoDigital.
Masstech creates intelligent, hybrid cloud-based storage and asset lifecycle management solutions for the M&E industry. The company has operated in the broadcast and video content storage management sector for a number of years, and also deals with cloud and other “vanguard technology development processes”.
All of Masstech’s resources will be transferred to Telestream. The company’s engineering and product management functions will be integrated within Telestream’s Content Management Business Unit, led by Geoff Tognetti who joined the company with the EcoDigital acquisition.
According to Telestream, the priority for the new team will be to combine the best intellectual property from Masstech and EcoDigital DIVA in one product. Masstech’s support team, sales and pre-sales teams will join Telestream’s global customer sales and support network.
“Following the EcoDigital acquisition, this investment decision made natural sense and it is strategic in its very nature,” said Dan Castles, CEO and co-founder of Telestream. “The knowledge base gained through the Masstech acquisition is complementary to what we have been doing and want to do in this area.
“This transaction brings together nearly two Exabytes of M&E content under the management of Telestream products in over 1,000 operational systems. With this market leadership comes a critical responsibility to work with our customers as they navigate a hybrid operating environment with assets on premise and in the cloud,” he concluded.
Financial details have not been revealed.