Telestream announced that it has agreed to acquire IneoQuest, a provider of quality control and analytics solutions for broadcast and network providers. The closing of the transaction remains subject to customary conditions and is expected to occur toward the end of the month.
This is the second test and quality control (QC) firm Telestream has acquired in the past six months. In September 2016, Telestream purchased UK-based Vidcheck. It also makes the second acquisition by Telestream
since being acquired by private equity owner GenStar in January 2015.
The terms of the deal were not disclosed. IneoQuest last publicly disclosed revenue in 2011 (as part of the Inc. 5000), when annual revenue was just below $40 million. An interview of IneoQuest’s CEO Calvin Harrison, by CEOCFO magazine in April 2013, quoted Calvin as projecting “double digit growth again this year.” There has been no subsequent guidance on revenue performance by IneoQuest.
Commenting on the transaction, Calvin stated, “We are happy to be joining the Telestream family and are looking forward to seeing our technology contribute to Telestream’s next phase of growth.”
As part of the press release announcing the acquisition, Telestream management focused on how IneoQuest expands Telestream’s existing capabilities in quality control and monitoring. “When it comes to media processing and delivery, the Telestream brand has become synonymous with quality. With the addition of IneoQuest technology to our existing QC capabilities, our customers will have the ability to monitor quality at any point in the delivery pipeline, making diagnosing and correcting a problem easier than ever before” explained Dan Castles Telestream’s CEO.
© Devoncroft Partners 2009 – 2017. All Rights Reserved.