Telestream Buys Encoder PandaStream, Launches Telestream Cloud
One more cloud-based video encoding company has been acquired: Telestream announced that it has taken PandaStream, but didn't disclose the purchase terms.
The acquisition is designed to strengthen Telestream's cloud-encoding abilities. In the same announcement, Telestream announced the launch of Telestream Cloud, a software-as-a-service (SaaS) product that's simply PandaStream's existing service rebranded. Telestream will use this as a foundation to build future cloud services. In the coming weeks, the PandaStream team will form a new business unit within Telestream.
With the PandaStream architecture, Telestream says it gains "a globally distributed, VOD encoding platform that dynamically scales in response to customer requirements." Telestream Cloud will use multiple cloud service providers—including Google Cloud Platform, Amazon Web Services, and Rackspace—in order to optimize file transfer and encoding times from any location.
Telestream assured PandaStream's existing customers that they'll continue to get the same products and services that they've been using.
Telestream made the move to jump-start its cloud efforts:
“After careful investigation of the market and consideration of various companies, we identified PandaStream as a very good fit for our needs," says Dan Castles, Telestream's CEO. "This acquisition fast-tracks the development of our existing cloud strategy, enabling the immediate launch of Telestream Cloud. By acquiring PandaStream, we are achieving a quantum progression in our cloud development objectives for both our enterprise and desktop product families."
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