Enables LiveU to focus on long-term strategy and advance its business objectives
HACKENSACK, New Jersey, May 28, 2019 /PRNewswire/ -- LiveU, the leader in live IP video solutions, is pleased to announce that Francisco Partners, a global technology-focused private equity firm, together with co-investor IGP Capital, have acquired LiveU from its existing shareholders to accelerate further the company's global expansion. With support from its new investors, LiveU will continue the company's strong growth momentum.
LiveU is democratizing live video by providing high quality live video solutions for TV, mobile, online and social media with its innovative portable devices and cloud services. With over 3,000 customers in 130+ countries, LiveU's technology is the solution of choice for leading broadcasters, sport organizations, news agencies, online and social media.
Samuel Wasserman, CEO and Co-Founder of LiveU, said, "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."
"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," added Wasserman. "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."
"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."
Mario Razzini, Principal at Francisco Partners, added, "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."
IGP Capital General Partner Assaf Harel, added, "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."
Goldman Sachs acted as exclusive financial advisor to Francisco Partners.
About Francisco Partners
Francisco Partners is a leading global private equity firm that specializes in investments in technology and technology-enabled businesses. Since its launch over 19 years ago, Francisco Partners has raised over $14 billion in committed capital and invested in more than 200 technology companies, making it one of the most active and longstanding investors in the technology industry. The firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit www.franciscopartners.com.
Israel Growth Partners (IGP) is a private equity investment firm established with a mission to provide growth capital to Israeli-related technology companies. With $500 million in AUM, IGP seeks to partner with exceptional companies and management teams who are eager to accelerate their growth and to reach category leadership and significant position in their respective markets. For more information visit www.igpcapital.com.
LiveU is driving the live video revolution, providing live video streaming for TV, mobile, online and social media. Let your audience become part of your story with high-quality and flawless live video, transmitted from anywhere in the world, through the use of our patented bonding and video transport technology. LiveU creates a consistent bandwidth and a reliable connection so you can acquire, manage and distribute high quality remote live broadcasts over IP. Our broad portfolio of products sets the industry standard for live video production. From backpacks to smartphones, and satellite/cellular hybrid to external antenna solutions, LiveU offers a complete range of devices for live video coverage anytime, anywhere. In addition, LiveU offers extensive cloud-based management and video distribution solutions. With over 3,000 customers in 130+ countries, LiveU's technology is the solution of choice for global broadcasters, online media, news agencies and social media. For more information, visit www.liveu.tv, or follow us on Twitter, Facebook, YouTube, LinkedIn or Instagram.
Joyce Essig (US)
Joss Armitage (Int'l)