Transcoding and workflow vendor Telestream announced that it has acquired Computer Prompting and Captioning (CPC).
Terms of the deal were not disclosed.
CPC, which has about 10 employees according to an article in the Sacramento Business Journal, provides captioning technologies for a variety of professional applications. The company was founded in 1986 by Dilip. Som and Sid Hoffman and has a long history of innovation.
Telestream says the CPC deal will bring it “deep expertise in captioning, which will benefit the company’s current and long term product strategies.” Telestream also says that its transcoding, workflow automation, live streaming and web publishing products will all benefit from the addition of CPC’s technology.
“CPC is a recognized leader in captioning for television and the Web, whose customers include media and entertainment companies, educational institutions, and houses of worship,” said Telestream founder and CEO Dan Castles. “Our customers at all levels need tools to author and distribute captioning in a more integrated way. This is a natural extension of what we do, and we look forward to integrating CPC’s world-class technology into all of our products.”
Second Subtitling M&A Deal in 2013
This is the second acquisition this year of a captioning/subtitling technology provider. In January 2013, Miranda announced that it had acquired UK-based Softel for an undisclosed amount.
So why the sudden interest in captioning and subtitling by established industry players?
Captions and subtitles have long been required by law, and the “Twenty-First Century Communications & Video Accessibility Act” in the United States took this requirement further by mandating that certain internet video content must also be subtitles.
According to the FCC’s Implementation Schedule for Captioning Internet Video Programming:
- Live and near-live video programming must be captioned on the Internet if it is shown on TV with captions (as of March 31, 2013)
- Pre-recorded video programming that is substantially edited for the Internet must be captioned if it is shown on TV with captions on or after September 30, 2013.
These regulations puts tremendous pressure on broadcasters, media companies, and content owners – and therefore provides opportunities for technology vendors like Telestream and Miranda who have snapped up providers of these solutions.
Press Release: Telestream Acquires Captioning Leader CPC
Sacramento Business Journal: Telestream acquires Computer Prompting and Captioning Co.
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