- LiveU announced it has been acquired from its existing shareholders by Francisco Partners and IGP Capital
- The acquisition will drive LiveU’s growth in providing high-quality live video solutions for TV, mobile devices, online, and social media
Live IP video solutions company LiveU announced it has been acquired from its existing shareholders by Francisco Partners and IGP Capital. The terms of the deal were undisclosed.
Why did Francisco Partners and IGP Capital buy LiveU? The investment companies are planning to further LiveU’s global expansion and continue the company’s strong growth momentum.
“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,” said LiveU CEO and co-founder Shmulik (Samuel) Wasserman.
What does LiveU do? It democratizes live video by providing high-quality live video solutions for TV, mobile devices, online, and social media through its portable devices and cloud services.
“We are extremely excited to be partnering with LiveU as the company enters the next chapter of its growth story,” added Eran Gorev — a who is a 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.”
With more than 3,000 customers in more than 130 countries, LiveU’s technology has become the solution of choice for leading broadcasters, sports organizations, and news agencies.
“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,” explained Francisco Partners principal Mario Razzini.
LiveU’s broad portfolio of products is able to set the industry standard for live video production. This ranges from backpacks to smartphones and satellite/cellular hybrid to external antenna solutions for live video coverage anytime. And LiveU creates a consistent bandwidth and reliable connection so that you can acquire, manage, and distribute high quality remote live broadcasts over IP.
“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,” noted IGP Capital General Partner Assaf Harel.
Goldman Sachs served as the exclusive financial advisor to Francisco Partners in this deal
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