Grab Networks, looking to sell its Anystream division, which provides enterprise-class transcoding and management platforms to about 600 companies globally, since early this year, has agreed to a deal with Telestream.
No terms of the deal, which is expected to closed in the next several weeks, were announced, but the company said Anystream's 30-some employees will join Telestream's workforce, which currently counts about 130 employees.
Founded 10 years ago, Anystream pioneered a solution for media companies looking to produce and transcode video to publish on the web. The company grew to become a leading provider of automated multi-platform media publishing solutions.
"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," said Dan Castles, Telestream CEO. "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."
In-Stat expects the worldwide multiformat transcoding market to grow from $117 million to $297 million in 2014.
For more:
- see this release
- see this blog post
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