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THOMA BRAVO COMPLETES
ACQUISITION OF TELESTREAM
January
10, 2012
Source: Telestream Acquisition
of Digital Media Company Adds to Thoma Bravo's Growing Software and Technology
Portfolio Thoma Bravo, LLC, a leading private
equity investment firm, has completed the acquisition of Telestream®, the
leading provider of video transcoding and digital media software solutions. Financial
details were not disclosed. Telestream's co-founder and CEO, Dan Castles, will
continue to serve as CEO for the company. "This
acquisition puts Telestream in a strong position to facilitate further growth
of our core businesses while giving us additional capital to explore further market
expansion and acquisitions," said Castles. "Thoma Bravo has a well-regarded
reputation in the technology space, and their expertise will be extremely valuable
as we enter the next phase of our growth and market leadership."
"We see tremendous growth opportunities in the digital
media industry," said Holden Spaht, partner at Thoma Bravo. "Based on
Telestream's reputation and leading market position, we believe the company represents
a great fit with Thoma Bravo's strategy of accelerating the growth of best-in-class
technology companies." "We're excited
to work with Telestream to further distinguish the company as the leader in the
digital media space," said Thoma Bravo vice president A.J. Rohde. "This
is a competitive, ever-changing industry that requires the ability to react quickly
to challenges and opportunities, and we believe this investment positions Telestream
for continued long-term success and growth." Headquartered
in Nevada City, Calif., Telestream has 160 employees and operations in Virginia,
Sweden and Germany. Its customers include leading media companies such as CBS,
BBC, CNN, FOX, CBC, Comcast, Direct TV, Time Warner, MTV, Discovery and Lifetime,
as well as a growing number of users in a broad range of business environments.
The completion of this acquisition marks Thoma
Bravo's nineteenth acquisition in the software space.
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