LiveU develops live broadcasting and streaming technologies negating the need for an outside broadcasting van, as the video is transmitted directly to the broadcaster’s server over cellular networks.
San Francisco-based private equity firm Francisco Partners Management LLC and Tel Aviv-based Israel Growth Partners (IGP) Ltd. have agreed to acquire Israel-based live broadcasting company LiveU Ltd. for approximately $200 million, the companies announced Tuesday. Francisco Partners and IGP are acquiring all of the company’s assets along with its co-founders and management team.
Founded in 2007, LiveU develops live broadcasting and streaming technologies negating the need for an outside broadcasting van, as the video is transmitted directly to the broadcaster’s server over cellular networks.
LiveU has around 230 employees in Israeli central town Kfar Saba and in its North American office in New Jersey. According to the company, no cutbacks are expected as a result of the acquisition.
LiveU has raised $50 million to date from investors including Canaan Partners, in which newly elected Knesset member Izhar Shay served as a managing general partner, Viola Ventures, Pitango Venture Capital, and Lightspeed Ventures.
