Live IP video solutions company LiveU has been acquired by the global technology private equity firm Francisco Partners and the private equity investment firm Israel Growth Partners (IGP). The objective of this agreement is to “accelerate further the company’s global expansion”, according to the press release.
Samuel Wasserman, CEO and Co-Founder of LiveU, said: “We are delighted to have Francisco Partners, a firm with an established track record, as our new majority owner. This will allow us to focus on our long-term strategy and growth objectives, benefiting our customers, partners and employees. I would like to take this opportunity to thank our previous shareholders Canaan Partners, Viola Ventures, Pitango Venture Capital, and Lightspeed Venture Partners for their valued support along the way, and contribution to our success.”
“We have made tremendous progress in delivering on our promise to establish LiveU as the clear market leader in providing live video streaming solutions for TV, digital and social media,” added Wasserman. “This could not have been possible without the tireless efforts of our amazing employees developing and driving superior technology solutions that contribute to LiveU’s current market position.”
Mario Razzini, Principal at Francisco Partners, also spoke about the agreement: “The broadcast and media industries are in a period of rapid change and LiveU is distinctively positioned to help customers capitalize on this opportunity with its strong market position and unmatched product innovation and performance.”
IGP Capital General Partner Assaf Harel commented: “We are thrilled to join Francisco Partners in backing the company and its talented team of professionals. LiveU is uniquely positioned in the global broadcast and media markets and we’re excited to support the company with new investment initiatives and future growth prospects.”