Summit takes minority share in Wowza

Media server software company Wowza Media Systems announced that growth equity investor Summit Partners has completed a minority investment in the company.

The investment, said the company, which specializes in providing infrastructure for streaming live video, video-on-demand, live recording and video chat, will allow it to continue pushing in the global market and that creates opportunities to expand.

Although financial details of the transaction weren't disclosed, the minority investment puts Greg Goldfarb, a Summit Partners Managing Director, onto the board. Wowza's CEO and co-founder David Stubenvoll and CTO and co-founder Charlie Good remain majority owners of the company and will lead the Wowza Board of Directors. The deal closed March 1, but was just announced March 27.

"The investment by Summit Partners affirms Wowza's leadership position within the fast-growing and ever-evolving streaming media space," said Stubenvoll.

Stubenvoll and Good launched Wowza in 2005, releasing its first Wowza Media Server software in 2007. The company now has more than 100,000 licensees in more than 150 countries, and includes as customers, service providers, radio and TV broadcasters, media properties, enterprises, educational institutions, OEMs, government agencies and other organizations.

For more:
- see this release

Related articles:
Encoding.com, Wowza Media partner on encoding solution
Wowza, Digital Rapids partner for improved video streaming
Adobe sues Wowza Media

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