The Vitec Group division Creative Solutions has acquired US-based tech specialist Lightstream.
It primarily develops technology for the games livestreaming market, with a particular interest in creator tools, broadcast software and a cloud-native live video platform.
"The powerful combination of our unique cloud-native products and Teradek's market-leading hardware, apps and cloud technology unlocks truly limitless creative potential," said Stu Grubbs, CEO & co-founder of Lightstream.
"We couldn't be more excited to join such respected brands and a talented group of people just as driven by the power of storytelling."
Currently, Lightstream has three products on offer,
- Lightstream Studio,
- Lightstream Cloud and
Lightstream Studio is a live streaming studio, while Lightstream Cloud is an "API driven cloud platform for live video production." Finally, Rainmaker provides content creators with metric tools to gain a better understanding of their audience.
The streaming tools specialist was founded in 2014.
In2019, Lightstream secured $8 million in a Series A funding round.
Creative Solutions is known for its work within the livestreaming market, having provided a range of hardware and software to content creators.
"We want to get rid of the technical barriers which make live streaming hard," explains Nicol Verheem, Founder & Chief Executive Officer of Creative Solutions.
"Merging Teradek's video encoding and cloud distribution capabilities with the Lightstream cloud platform will immediately simplify and improve the overall quality and delivery of live content everywhere."
"Lightstream's founders and team will be joining Creative Solutions, and there will be no immediate changes to the pricing or structure of any of their current offerings.
Varheem continued: "Creative Solutions will begin developing organic integrations of Lightstream's cloud-first approach with Creative Solutions' traditional live streaming hardware technologies.
"It's about empowering the next generation of storytellers. To give them the tools to tell better stories live, in real-time, without sacrificing quality."