[Satellite TODAY Insider 01-10-12] Private equity investment firm Thoma Bravo has completed its acquisition of Telestream, a video transcoding and digital media software solutions, marking Thoma Bravo’s 19th acquisition in the software market.

   Telestream confirmed Jan. 9 that co-founder and CEO Dan Castles would continue to serve as CEO for the company post-acquisition. 

   Thoma Bravo Partner Holden Spaht said the firm acquired Telestream after it identified significant growth opportunities in the digital media industry. “Based on Telestream’s reputation and leading market position, we believe the company represents a great fit with Thoma Bravo’s strategy of accelerating the growth of best-in-class technology companies.”

   Telestream is based in California, with 160 employees working from other operations facilities in Virginia, Sweden and Germany. Its customers include media companies such as CBS, BBC, CNN, FOX, CBC, Comcast, Direct TV, Time Warner, MTV, Discovery and Lifetime.

   “This is a competitive, ever-changing industry that requires the ability to react quickly to challenges and opportunities, and we believe this investment positions Telestream for continued long-term success and growth,” Thoma Bravo Vice President A.J. Rohde said in a statement.

   Castles added the acquisition puts Telestream in a position to facilitate further growth of its core businesses while providing the company with additional capital to explore further market expansion and acquisitions. “Thoma Bravo has a well-regarded reputation in the technology space, and their expertise will be extremely valuable as we enter the next phase of our growth and market leadership.”

   Financial details of the acquisition were not disclosed.