Israeli live video solutions company LiveU has announced that has been acquired by US private equity firms Francisco Partners and IGP Capital.
Over 90 percent of the company has been acquired at a valuation of $200 million, Globes reports.
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The company will remain in the hands of the company’s founders. Eran Gorev of Francisco Partners will become LiveU’s chairman.
“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,” says Samuel Wasserman, CEO and co-founder of LiveU. “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.”
“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,” says Mario Razzini, principal at Francisco Partners.
Founded in 2006, LiveU provides live video streaming for TV, mobile, online and social media. They also provide portable live video acquisition solutions as well as technology for television broadcasters to enable live video links through a wireless cellular network.
“We are extremely excited to be partnering with LiveU as the company enters the next chapter of its growth story,” said Eran Gorev, senior operating partner at Francisco Partners. “LiveU is already recognized as the industry leader, and we look forward to partnering with IGP Capital and LiveU’s management team to further enhance the company’s solutions, grow the customer base and advance its strategic goals.”