“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.