Genstar Capital portfolio company Telestream has completed its deal to acquire Masstech.
The company’s 10th acquisition comes shortly after Telestream’s purchase of content management system technology provider EcoDigital. The combination of these two entities within Telestream makes it a major player in the content storage/management segment of the M&E market with over 1000 active customer systems in operation worldwide.
Masstech creates intelligent, hybrid cloud-based storage and asset lifecycle management solutions for the M&E industry. It 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.
“Telestream has effectively rolled-up the archive management sector in less than six months through the acquisitions of EcoDigital 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 market intelligence company Devoncroft Partners.
Under the terms of the deal, 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 1000 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.