Telestream to Acquire Anystream Division
Telestream agreed to acquire the business operations of the Anystream division of Grab Networks. The combination will further extend Telestream’s position in the software video-transcoding market and enhance the company’s ability to provide enterprise-class, file-based and live encoding solutions worldwide. Once completed, the transaction will add an engineering and support team, an East Coast office, and a key account sales team to Telestream’s worldwide business.
Founded ten years ago, Anystream developed solutions for media companies looking to produce and transcode video to publish on the Web with the introduction of their Agility products. The company’s automated multiplatform media publishing solutions are used by over 600 media companies in 38 countries.
“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 multiformat 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 $117 million to $297 million in 2014, according to the report “Worldwide Market for Enterprise-Class Multiformat Transcoders" issued August 3, 2010.
The transaction is subject to various closing conditions, and the terms of the deal were not disclosed.