Masstech Becomes Telestream’s Tenth Acquisition
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Telestream, which is backed by Genstar Capital, has bought storage firm Masstech.
Telestream’s 10th acquisition creates what it calls – and who can argue? - a market-leading presence in the global M&E market’s content storage and management segment.
Telestream, which is backed by Genstar Capital, has bought storage firm Masstech for an undisclosed sum.
“Telestream has effectively rolled-up the archive management sector in less than six months through the acquisitions of DIVA and Masstech,” noted Joe Zaller, Founder of analyst Devoncroft Partners. “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.”
Masstech creates hybrid cloud-based storage and asset lifecycle management solutions.
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 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,” Castles concluded.
Devoncroft’s 2020 Big Broadcast Survey (BBS) shows that Telestream is ranked in the top-5 globally for Net Promoter Score and ‘great customer service’ among media technology software brands. Further, buyers of archive management solutions ranked Telestream among the most trustworthy brands in the broadcast technology sector.
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