Telestream, a Genstar Capital company, announced a partnership with Fortive (NYSE:FTV) to integrate Tektronix Video into the Telestream business. The terms of the deal were not disclosed, but the transaction results in Genstar Capital partnering with Fortive in a co-ownership arrangement.
Tektronix Video provides video test, monitoring and quality assurance solutions to help media companies and service providers monitor, analyze and optimize video on any device, across any network. The company develops and markets video and audio test solutions for analysis, quality control, service assurance and regulatory compliance supporting a range of applications from HD to 4K/UltraHD, SDI to IP, and linear multicast to OTT ABR networks.
Scott Puopolo will remain CEO of the combined company.
Puopolo said: "Combining Tektronix Video with Telestream brings more extensive sales reach and a very strong presence in additional countries and markets, as well as extensive channel relationships through which we can sell our entire portfolio. Further, Tektronix Video has industry-leading product management and R&D skills, which can augment our talent and extend Telestream's capacity for innovation. Finally, 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."
"Our investment thesis will continue to view Telestream as a growth-oriented platform company for consolidation of innovative software companies in the video technology ecosystem," said Eli Weiss, managing director at Genstar Capital. "Our partnership with Fortive will give us even more capacity to pursue further consolidation in the future."