Private Equity Firm Buying Telestream
Telestream, a provider of video transcoding and digital media software solutions, announced that private equity investment firm Thoma Bravo LLC has entered into a definitive agreement to purchase Telestream Inc.
The company said the deal will “facilitate further growth of Telestream’s core businesses in addition to providing additional capital for further market expansion and acquisition.”
“This acquisition recognizes Telestream’s history of market leadership, double-digit growth and profitability,” said Dan Castles, Telestream’s co-founder and CEO. “That growth would not be possible without our original investors and dedicated team of employees who have demonstrated a strong commitment to our customers. We look forward to our next phase of growth and expansion with Thoma Bravo as we continue to play a leadership role in the digital media industry.”
The transaction is expected to close in early January 2012. Terms of the deal were not disclosed as both companies are privately held.
Telestream will continue to operate as an independent entity with existing management teams continuing their current roles. Headquarters will remain in Nevada City, Calif., with offices in Virginia, Sweden and Germany.