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.”
Telestream customers include media companies such as CBS, BBC, CNN, FOX, CBC, Comcast, Direct TV, Time Warner, MTV, Discovery and Lifetime.
The completion of this acquisition marks Thoma Bravo’s nineteenth acquisition in the software space.