Local company Telestream which has seen double digit growth and profitability as the leader of digital media software solutions is being bought by private equity investment firm Thoma Bravo. The agreement will keep local management in place and Vice President of Marketing Barb DeHart says it will give Telestream a financial platform for further growth.
“Overall, it’s just fantastic news. It is really an investment, their investment in Telestream so that we can serve as a foundation for more aggressive investments on their part in the digital media industry, so overall it means that they’re really affirming a lot of what we have done and stood for in the last 14 years.”
DeHart says the sale should finalize in early January. Telestream will continue to operate as an independent entity with existing management teams continuing their current roles. Headquarters will remain in Nevada City, with offices in Virginia Sweden and Germany. Telestream currently has 150 employees at their facility on gold Flat Road. They are expecting to add more jobs as the company grows.