The deal spells out that Genstar will partner Fortive under a co-ownership arrangement, and Scott Puopolo, CEO of Telestream, will be CEO of the combined company.
Telestream incorporates business alliances as a corporate strategy to amplify its quality of service (QoS) and quality of experience (QoE) in its customer operations.
Eli Weiss, managing director, Genstar Capital, said: “Our partnership with Fortive will give us even more capacity to pursue further consolidation in the future.”
Serving 95% of the leading broadcasters and network service providers around the globe, Tektronic video test, monitor, and quality assurance equipment are well in demand as they help media providers to optimise, analyse and gain a deeper understanding of viewers engagement across different devices and networks.
Apart from actionable analytics, the company also develops solutions for quality control, service assurance and regulatory compliance that support a wide range of applications — from HD to 4K/UHD, SDI to IP, and linear multicast to OTT networks.
In addition, Tektronix has established a wide network of sales operations in Asia, Europe, Middle East, North America as well as Latin America.
Puopolo said: “Combining Tektronix Video with Telestream brings more extensive sales reach and a very strong presence in additional countries and markets, as well as extensive channel relationships through which we can sell our entire portfolio.
“Further, Tektronix Video has industry-leading product management and R&D skills that can augment our talent and extend Telestream’s capacity for innovation.
“Finally, with engineering talent in both Beaverton and Bangalore India, we will benefit from significant additional resources to both innovate and deliver to the needs of our customers.”