Telestream Executes Agreement With Anystream Division

Telestream, a leading provider of digital media tools and workflow solutions, has 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 mutli-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.
Dan Castles, CEO of Telestream, said: "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. This transaction is very synergistic and truly a win-win for customers, employees and partners alike."
Michelle Abraham, Principal Analyst with In-Stat, said: "This transaction further helps the company leverage a growing market." 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.
(KMcA)