HACKENSACK, N.J.—Technology-focused private equity firm Francisco Partners, along with co-investor IGP Capital, have acquired a majority stake in LiveU, the IP video solutions company announced.

Francisco Partners took over from previous shareholders that consisted of Canaan Partners, Viola Ventures, Pitango Venture Capital and Lightspeed Venture Partners.

“We are delighted to have Francisco Partners, a firm with an established track record, as our new majority owner,” said Samuel Wasserman, CEO and co-founder of LiveU. “This will allow us to focus on our long-term strategy and growth objectives, benefiting our customers, partners and employees.”

“The broadcast and media industries are in a period of rapid change and LiveU is distinctively positioned to help customers capitalize on this opportunity with its strong market position and unmatched product innovation and performance,” said Mario Razzini, principal at Francisco Partners.