In a deal that brings more consolidation to the video monitoring and analytics sector, Telestream has inked a deal to acquire IneoQuest. Financial terms were not disclosed.
Founded in 2001, privately held IneoQuest makes video quality tools for multiple devices.
The expect to close deal toward the end of Q1 2017.
Telestream said the acquisition will complement its purchase last fall of quality control technology company Vidcheck, and expand its market reach.
IneoQuest’s announced customers and partners include Arris, AT&T/DirecTV, Charter Communications, Cisco Systems, BT, CenturyLink, Cox Communications, Comcast, Ericsson, MobiTV, Kabel Deutschland, PBS, Rogers Communications, RCN, Showtime, Shaw Communications, Starz, Turner, Verizon and Vubiquity, among others.
“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,” Dan Castles, Telestream's CEO, said in a statement.
"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," added IneoQuest CEO Calvin Harrison.
William Blair & Co. acted as the exclusive financial advisor to IneoQuest. DLA Piper LLP serves as legal counsel to Telestream, and Skadden, Arps, Slate, Meagher & Flom LLP is legal counsel to IneoQuest.