Thoma Bravo, a private equity investment firm, has completed the acquisition of Telestream, a provider of video transcoding and digital media software solutions. Financial details were not disclosed. Telestream’s co-founder and CEO, Dan Castles, will continue to serve as CEO for the company.
“This acquisition puts Telestream in a strong position to facilitate further growth of our core businesses while giving us additional capital to explore further market expansion and acquisitions,” said Castles. “Thoma Bravo has a well-regarded reputation in the technology space, and their expertise will be extremely valuable as we enter the next phase of our growth and market leadership.”
“We see tremendous growth opportunities in the digital media industry,” said Holden Spaht, partner at Thoma Bravo. “Based on Telestream’s reputation and leading market position, we believe the company represents a great fit with Thoma Bravo’s strategy of accelerating the growth of best-in-class technology companies.”
“We’re excited to work with Telestream to further distinguish the company as the leader in the digital media space,” said Thoma Bravo vice president A.J. Rohde. “This is a competitive, ever-changing industry that requires the ability to react quickly to challenges and opportunities, and we believe this investment positions Telestream for continued long-term success and growth.”
Headquartered in Nevada City, Calif., Telestream has 160 employees and operations in Virginia, Sweden and Germany. Its customers include leading media companies such as CBS, BBC, CNN, FOX, CBC, Comcast, Direct TV, Time Warner, MTV, Discovery and Lifetime, as well as a growing number of users in a broad range of business environments.
The completion of this acquisition marks Thoma Bravo’s nineteenth acquisition in the software space.