Telestream Acquires Masstech
Telestream has announced its acquisition of Masstech. Telestream, a portfolio company of Genstar Capital, is a vertical market software business focused on the video space and is a global leader in media workflow orchestration, media streaming and delivery technologies. The deal to acquire Masstech has been completed.
The company’s 10th acquisition comes shortly after Telestream’s purchase of EcoDigital – another leader in content management system technology. The combination of these two entities within Telestream makes it a leading supplier to the content storage / management segment of the M&E market with over 1,000 active customer systems in operation worldwide.
Masstech creates intelligent, hybrid cloud-based storage and asset lifecycle management solutions for the M&E industry. Masstech combines the experience of many decades of broadcast and video content storage management with cloud and other vanguard technology development processes, to identify and address the challenges of the industry’s constantly evolving technical and business landscapes. Today, organizations representing every facet of M&E, around the world and across every platform, use Masstech solutions to keep their assets secure, and to deliver them to the right location in the correct format.
“Telestream has effectively rolled-up the archive management sector in less than six months through the acquisitions of DIVA and Masstech. The real winners are the customers since a company of Telestream’s scale is likely to bring stability to the archive management sector through greater investments in both R&D and enhanced service and support,” commented Joe Zaller, Founder of Devoncroft Partners. “Devoncroft’s 2020 Big Broadcast Survey (BBS) shows that Telestream is ranked in the top-5 globally for Net Promoter Score and ‘great customer service’ among media technology software brands. Further, buyers of archive management solutions ranked Telestream among the most trustworthy brands in the broadcast technology sector.”
All the resources of Masstech will be transferred to Telestream. The company’s engineering and product management functions will be integrated within Telestream’s Content Management Business Unit, led by Geoff Tognetti who joined the company with the EcoDigital acquisition. The priority for this team will be to combine the best intellectual property from Masstech and EcoDigital DIVA in one product. Masstech’s support team, sales and pre-sales teams will join Telestream’s global customer sales and support network.
“Following the EcoDigital acquisition, this investment decision made natural sense and it is strategic in its very nature,” commented Dan Castles, CEO and Co-Founder of Telestream. “The knowledge base gained through the Masstech acquisition is complementary to what we have been doing and want to do in this area.
“This transaction brings together nearly two Exabytes of M&E content under the management of Telestream products in over 1,000 operational systems. With this market leadership comes a critical responsibility to work with our customers as they navigate a hybrid operating environment with assets on premise and in the cloud,” Castles concluded.