Telestream and Tektronix Combine, Forming a Co-Owned Business
Digital video solutions company Telestream is joining with Tektronix, which creates testing and quality assurance products, to form a combined business that is still owned by their respective parent companies. Private equity firm Genstar Capital, Telestream's parent company, will be the majority owner of the combined entity, while industrial conglomerate Fortive, Tektronix's parent, will be a minority owner. Financial details have not been disclosed.
Scott Puopolo, CEO of Telestream, will also be CEO of the combined company. Noting that this arrangement isn't just about adding a complementary product to the Telestream lineup, Puopolo says the deal increases sales reach and creates a stronger presence in new markets, tools the company can use to sell a combined portfolio of solutions.
"Tektronix Video has industry leading product management and R&D skills which can augment our talent and extend Telestream’s capacity for innovation," Puopolo says. "With engineering talent in both Beaverton and Bangalore, India, we will benefit from significant additional resources to both innovate and deliver to the needs of our customers.”
Telestream is based in both Nevada City, California, and Westwood, Massachusetts, while Tektronix is in Beaverton, Oregon. A Telestream representative said Telestream will move the Tektronix operations there into a separate facility on the campus and lease the space. Telestream sees Tektronix's engineering and product management skills as critical to its ongoing efforts to innovate and deliver to customers, the rep added.
Tektronix has over 1,000 clients around the globe, and work with 95% of the top broadcasters and network service providers.
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