NEVADA CITY, Calif., Aug. 13 /PRNewswire/ -- Telestream, the leading provider of digital media tools and workflow solutions, today announced the execution of a definitive agreement to acquire the business operations of the Anystream division of Grab Networks. The combination will further extend Telestream's position in the software video transcoding market and significantly enhance the company's ability to provide enterprise-class, file-based and live encoding solutions across the globe.
Founded ten years ago, Anystream pioneered a solution for media companies looking to produce and transcode video to publish on the web with the introduction of their Agility® products. The company grew to become a leading provider of automated multi-platform media publishing solutions, and its solutions are used by over 600 of the leading media companies in 38 countries around the world.
Once completed, the transaction will add a world-class engineering and support team, an East Coast office, and a key account sales team to Telestream's worldwide business. The addition of Anystream's seasoned team of professionals grows a dedicated, world-class group focused on automated multi-platform media publishing solutions within the Telestream family.
"This is a great opportunity for Telestream to accelerate its momentum helping media and entertainment companies unleash the promise of their media assets through next-generation enterprise-class solutions designed for complex multi-format workflows. Anystream's customer base will benefit not only from Telestream's broad end-to-end digital media tools and workflow solutions, but also from its strategic focus on transcoding," said Dan Castles, CEO of Telestream. "This transaction is very synergistic and truly a win-win for customers, employees, and partners alike."
"This transaction further helps the company leverage a growing market," remarked Michelle Abraham, principal analyst with In-Stat. In-Stat expects the worldwide multiformat transcoding market to grow from $117 million to $297 million in 2014, according to the report "Worldwide Market for Enterprise-Class Multiformat Transcoders" issued August 3, 2010.
The transaction is subject to various closing conditions, and the terms of the deal were not disclosed as both companies are closely-held private entities.
Trademarked company and product names are the property of their respective companies.
Telestream provides world-class live and on-demand digital video tools and workflow solutions that allow consumers and businesses to transform video on the desktop and across the enterprise. Many of the world's most demanding media and entertainment companies such as CBS, BBC, CNN, FOX, CBC, Comcast, Direct TV, Time Warner, MTV, Discovery, and Lifetime, as well as a growing number of users in a broad range of business environments, rely on Telestream products to streamline operations, reach broader audiences and generate more revenue from their media. These companies choose to work with Telestream as they know they will get a trusted and highly skilled technical partner. Telestream products span the entire digital media lifecycle, including video capture and ingest; live and on-demand encoding and transcoding; playout, delivery, and live streaming; as well as management and automation of the entire workflow. The company also partners closely with the industry's leading digital media companies across the entire digital media lifecycle, from consumer to enterprise. Telestream corporate headquarters are located in Nevada City, California. The company is privately held. For more information on Telestream, please visit www.telestream.net.