Private equity firm Genstar Capital has agreed a deal to purchase Telestream.

Telestream’s products include transcoding and workflow automation platform Vantage and live streaming software Wirecast.

Telestream co-founder and chief executive Dan Castles said the deal, which is expected to close before the end of the month, would not affect the company’s relationships with its clients.

He said: “Genstar’s mid-market focus and deep expertise in the software industry will enable Telestream to further accelerate our growth.

“Over the past several years, Telestream has experienced its most significant growth.

“We look forward to our new partnership with Genstar as we increase our investment in existing products, accelerate our reach into new customer verticals and fuel our next phase of development through additional M&A activity.

“Our product portfolio and business models are well suited for the Genstar environment.”

Genstar will acquire Telestream from private equity firm Thoma Bravo, which bought the company in 2012.