Telestream Buys PandaStream to Pursue Cloud Based Video Delivery Services
Telestream has announced that they have acquired PandaStream for an unspecified amount. The move comes as Telestream looks to get its hands into the cloud based video delivery services market. PandaStream’s architecture is unique because it gives businesses the ability to delivery video to end users anywhere in the world.
“Telestream can now provide video transcoding anywhere and everywhere – on your desktop, in your facility’s server room or in the cloud,” says Shawn Carnahan, CTO at Telestream.
“In the longer term, this acquisition opens up new opportunities for Telestream customers across every market we serve,” Carnahan added.
Those who already subscribe to services through PandaStream will see no change in service. PandaStream will become a business unit within Telestream, with more news on the merger likely to break in the next few weeks.
Dan Castles, CEO of Telestream says, “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.”
Cloud is the next frontier in terms of how people will get video delivered to them on demand. The market is still in its early stages, however, as many consumers continue to cut the cord and do away with their cable and satellite subscriptions, cloud hosted video content will continue to gain popularity.
When content is delivered faster and in better quality, publishers will notice and begin to adapt that platform. That’s the idea behind Telestream’s acquisition of PandaStream. Media organizations can rapidly deploy new video content to end users worldwide can consume the content using the Telestream and PandaStream platforms.
The announcement of the acquisition of PandaStream comes at an opportune time for Telestream, given the fact that Telestream has just updated the to latest version of its media processing platform called Vantage. With Vantage, businesses can package video content and add monetization methods directly into their media.
