Video transcoding and workflow automation system provider Telestream has acquired cloud-based encoding firm PandaStream.
As a result of the deal, the company has launched Telestream Cloud, a software-as-a-service (SaaS) platform that makes the PandaStream encoding capabilities available under the Telestream brand.
Using the PandaStream architecture, Telestream Cloud offers a globally distributed, VoD encoding platform. Telestream Cloud uses multiple cloud service providers including Google Cloud Platform, Amazon Web Services and Rackspace, which the company said would optimise file transfer and encoding times.
“After careful investigation of the market and consideration of various companies, we identified PandaStream as a very good fit for our needs,” said Telestream chief executive Dan Castles.
“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.”
The PandaStream team will transition to a separate business unit within Telestream over the next couple of weeks.
US-based PandaStream’s clients include The Mill and Massachusetts Institute of Technology.