Telestream, the provider of media workflow orchestration, media streaming and delivery technologies, and a portfolio company of Genstar Capital, has announced it has acquired Masstech, the developer of hybrid cloud-based storage and asset lifecycle management solutions for the Media & Entertainment industry.
The move marks the company’s 10th acquisition and comes shortly after Telestream’s purchase of EcoDigital – another provider of content management system technology. According to Telestream, the combination of these two entities within the company 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.
“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 industry analyst Joe Zaller, Founder of Devoncroft Partners.
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.