LiveU, provider of live IP video solutions, has announced 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. LiveU is democratising live video by providing 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 over 130 countries, LiveU’s technology is the solution of choice for leading broadcasters, sport organisations, news agencies, online, and social media.
Samuel Wasserman, CEO and co-founder, LiveU, said, "We are delighted to have Francisco Partners as our new majority owner. This will allow us to focus on our long-term strategy and growth objectives."
"We are excited to be partnering with LiveU as the company enters the next chapter of its growth story," said Eran Gorev, senior operating partner, Francisco Partners.
Mario Razzini, principal, Francisco Partners, added “The broadcast and media industries are in a period of rapid change and LiveU is positioned to help customers capitalise on this opportunity with its market position and product innovation.”
Goldman Sachs acted as exclusive financial advisor to Francisco Partners.