LiveU Gets New Owners
Francisco Partners, a global technology-focused private equity firm, together with co-investor IGP Capital, have acquired live IP video solutions provider LiveU from its existing shareholders.
LiveU provides live video solutions for TV, mobile, online and social media with its portable devices and cloud services. With more than 3,000 customers in 130-plus countries, LiveU’s technology is used by broadcasters, sport organizations, news agencies, online and social media.
Samuel Wasserman, CEO and co-founder of LiveU, said: “We are delighted to have Francisco Partners, a firm with an established track record, as our new majority owner. This will allow us to focus on our long-term strategy and growth objectives, benefiting our customers, partners and employees. I would like to take this opportunity to thank our previous shareholders Canaan Partners, Viola Ventures, Pitango Venture Capital, and Lightspeed Venture Partners for their valued support along the way, and contribution to our success.”
“We have made tremendous progress in delivering on our promise to establish LiveU as the clear market leader in providing live video streaming solutions for TV, digital and social media,” added Wasserman. “This could not have been possible without the tireless efforts of our amazing employees developing and driving superior technology solutions that contribute to LiveU’s current market position.”
“We are extremely excited to be partnering with LiveU as the company enters the next chapter of its growth story,” said Eran Gorev, senior operating partner at Francisco Partners. “LiveU is already recognized as the industry leader, and we look forward to partnering with IGP Capital and LiveU’s management team to further enhance the company’s solutions, grow the customer base and advance its strategic goals.”
Mario Razzini, Principal at Francisco Partners, added: “The broadcast and media industries are in a period of rapid change and LiveU is distinctively positioned to help customers capitalize on this opportunity with its strong market position and unmatched product innovation and performance.”
IGP Capital General Partner Assaf Harel, added: “We are thrilled to join Francisco Partners in backing the company and its talented team of professionals. LiveU is uniquely positioned in the global broadcast and media markets and we’re excited to support the company with new investment initiatives and future growth prospects.”
Goldman Sachs acted as exclusive financial adviser to Francisco Partners.