In what is being hailed as a “market influencing move” in the Media & Entertainment (M&E) content storage & management sector, Genstar Capital-controlled Telestream has purchased Masstech for an undisclosed price.
Telestream is a vertical market software business focused on the video space and is known for media workflow orchestration, media streaming and delivery technologies.
The acquisition follows Telestream’s recent purchase of EcoDigital – also in the content management system space.
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,” Telestream said. “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.”
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. He 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,” said 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.”