Telestream has negotiated a deal to buy the Anystream division and its staff from Grab Networks.
Telestream hopes that the combination of the two companies will help it to extend its position in the software video transcoding market and improve the company’s ability to provide large-scale file-based and live encoding technology around the world.
The deal includes the Anysteam engineering and support team, an East Coast US office and a key account sales team.
Anystream’s Agility products allow media companies to produce and transcode video to publish on the web.
Telestream chief executive Dan Castles said: “Anystream’s customer base will benefit not only from Telestream’s broad end-to-end digital media tools and workflow solutions, but also from its strategic focus on transcoding.
The transaction is subject to various closing conditions.
Financial details were not disclosed.