, a provider of video transcoding and workflow automation solutions, has announced the acquisition of Cloud-based encoding provider, PandaStream. The result of a comprehensive investigation of key suppliers in the cloud-based encoding market, the acquisition accelerates Telestream’s strategy for providing cloud services to complement its on-premise solutions.
As a direct result of this acquisition, Telestream is also announcing the launch of , a new software-as-a-service (SaaS) offering that builds on Telestream’s significant position and long history in transcoding. This new platform makes the PandaStream encoding capabilities available under the Telestream brand today and will serve as the foundation for future offerings in the cloud.
PandaStream services and technology have been developed by a team of experts with significant experience in building scalable cloud infrastructure. PandaStream’s encoding at scale, ease of use and cost efficiency combined with Telestream’s broad set of encoding products means Telestream customers have access to advanced encoding portfolio available.
“After careful investigation of the market and consideration of various companies, we identified PandaStream as a very good fit for our needs. This acquisition fast tracks the development of our existing cloud strategy, enabling the immediate launch of Telestream Cloud. By acquiring PandaStream, we are achieving a quantum progression in our cloud development objectives for both our enterprise and desktop product families,” commented Dan Castles, Chief Executive Officer of Telestream.