Tech-focused private equity firm Francisco Partners and co-investor IGP Capital have acquired live IP video solutions company, LiveU, from its existing shareholders.
LiveU said that the majority investment from Francisco Partners will accelerate the company’s global expansion and allow it to focus on its “long-term strategy and growth objectives”.
“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,” said LiveU CEO and Co-Founder, Samuel Wasserman.
“We are delighted to have Francisco Partners, a firm with an established track record, as our new majority owner.”
Francisco Partners’ Senior Operating Partner, Eran Gorev, said: “We are extremely excited to be partnering with LiveU as the company enters the next chapter of its growth story.”
“LiveU is already recognised 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.”
Francisco Partners Principal, Mario Razzini, added: “The broadcast and media industries are in a period of rapid change and LiveU is distinctively positioned to help customers capitalise on this opportunity with its strong market position and unmatched product innovation and performance.”
LiveU claims more than 3,000 customers in 130-plus countries and its technology is used by broadcasters, sports organisations, news agencies and online and social media companies.
