Nevada City broadcast and video technology company Telestream LLC has acquired Masstech, a video storage management company in southern England.
The deal follows Telestream's purchase in October of Georgia-based EcoDigital, which makes a suite of branded cloud-based video archive and management software tools.
With the two acquisitions, Telestream has consolidated professional-level video archiving and management.
“This transaction brings together nearly two exabytes of media and entertainment 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,” said Telestream CEO and co-founder Dan Castles, in a news release.
An exabyte is 1 billion gigabytes.
“Following the EcoDigital acquisition, this investment decision made natural sense and it is strategic in its very nature,” Castles said. “The knowledge base gained through the Masstech acquisition is complementary to what we have been doing and want to do in this area.”
Telestream spokesman Douglas Hansel declined to disclose the company's revenue, number of employees or the value of the acquisitions.
Telestream provides live on-demand digital tools to broadcasters and content producers for television, desktops and smartphones. Its clients include Google, CBS, the BBC, CNN, Comcast, DirecTV, Time Warner, MTV, Discovery and Lifetime.
Masstech creates tools for video creators, distributors, broadcasters and producers. Its clients include NBC, ABC News, the BBC and HBO.
Telestream is a portfolio company of San Francisco-based private equity firm Genstar Capital LP.
Masstech is the 10th company acquired by Telestream since its founding in 1998.
The original investors in Telestream included Sacramento venture capital firm Hallador Venture Partners LLC, which put $400,000 into the original $5 million that got Telestream started in 1998. Hallador was cashed out in a sale to San Francisco private equity fund Thoma Bravo in 2012. Genstar bought Telestream from Thoma Bravo three years later.
