Telestream Purchases Masstech
Telestream says move makes them leading supplier to content storage/management segment
NEVADA CITY, Calif.—Telestream has announced an acquisition of Masstech, which constructs hybrid cloud-based storage and asset lifecycle management systems.
This move follows Telestream’s acquisition of EcoDigital and its Diva MAM platform back in October. Telestream has now made 10 acquisitions, which the company claims makes it the leading supplier to the content storage/management segment for the Media & Entertainment market.
Under the terms of this new deal, all Masstech resources will be transferred to Telestream. The company’s engineering and product management functions will be integrated with Telestream’s Content Management Business Unit and will be led by Geoff Tognetti. The goal of this unit will be to combine Masstech intellectual property with EcoDigital’s Diva into a single product.
Masstech’s support team, sales and pre-sales team 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,” commented 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,” Castles concluded.
“Telestream has effectively rolled-up the archive management sector in less than six months through the acquisitions of Diva and Masstech,” said Joe Zaller, founder of Devoncroft Partners, a market research firm. “The real winners are the customers since a company of Telestream’s scale is likely to bring stability to the archive management sector through greater investments in both R&D and enhanced service and support.”
The deal has been completed, though no financial details were shared.
For more information, visit www.telestream.net (opens in new tab).
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