Acquisition bolsters Telestream’s position in workflow management markets
According to the company, the terms of the deal were not disclosed, as both companies are closely-held private companies.
Telestream said it aims to become the dominant player in the video transcoding market and to provide on-demand workflow applications.
Anystream’s products, services, and customer base will be incorporated into Telestream to target media and entertainment organisations, the company said.
Dan Castles, CEO of Telestream said: “The addition of Anystream’s product offerings and expertise ensures that our combined customers are provided the deepest, most integrated workflow solutions to safeguard their media assets and ensure their overall business success.”
For existing customers, Telestream reasssured them that they will continue to sell Agility and Avalon products. The company will also continue to provide customer service and support to Anystream customers.
After the completion of the acquisition, Anystream’s team will be integrated into Telestream with Anystream’s management maintaining leadership roles in the company.