Telestream Acquires EcoDigital
In a strategic move that highlights the company’s sustained growth ambitions, Telestream has announced its acquisition of EcoDigital (formerly known as Front Porch Digital). Telestream, a portfolio company of Genstar Capital, is a vertical market software business focused on the video space and is a global leader in media workflow orchestration, media streaming and delivery technologies. The deal to acquire EcoDigital has been completed.
EcoDigital brings to market a Content Management Software (CMS) solution called Diva, which manages the archiving and retrieval of a customer’s assets. Diva automates the process and provides transcoding to and from the archive repository. The storage repository can be on-premise utilizing almost any vendors physical storage (online, nearline or deep storage on LTO tape) or in the cloud (Google, Microsoft, AWS, Alibaba or Oracle).
The considerable overlap between Diva and Telestream’s flagship Vantage Media Processing Platform highlights the potential efficiencies created by the company integration. EcoDigital has hundreds of customers and installations worldwide and there is a strong customer overlap with Telestream. Their primary customer base are broadcasters and content owners. Additionally, Diva software installations typically sit alongside Vantage systems that are providing transcoding of production media assets.
"At Telestream, we have always been about creating integrated solutions for our customers, to help them streamline their operations," commented Dan Castles, CEO of Telestream. "The acquisition of EcoDigital provides more workflow solutions, especially Vantage-related, which facilitate tighter integration for the production, archive and restoration of raw and finished assets. Once the integration is completed, our customers can be even more efficient in the management of their production assets."
Additionally, EcoDigital's cloud strategy is consistent with Telestream's. Both companies are investing in the cloud and both are cloud agnostic, enabling customers to choose the best cloud platform to fit their business needs. Also, both companies recognize that customers are going to be in a hybrid environment where both on-premise and cloud-based solutions co-exist and an integration with both is key.
"This company integration is entirely positive news for EcoDigital and our customers since the technology synergies between our two product ranges are considerable,” stated Geoff Tognetti, CTO at EcoDigital. “This integration has been well thought out – the end result will create greater efficiencies within customer operations and will be beneficial for their businesses."
[Editor's note: This is a lightly edited press release.]
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