Citizens M&A Advisory served as the exclusive financial advisor to EcoDigital (formerly known as Front Porch Digital) in its sale to Telestream, combining two software businesses in the digital media industry.
“The team at Citizens provided the best tactical execution of an M&A deal I have ever experienced having been involved with approximately 50 deals in my career. They provided outstanding guidance to us at every decision point throughout the process. Their collaborative approach, strong work ethic and tenacity were instrumental in completing this transaction in an uncertain economic environment,” Justin Ririe, CEO at EcoDigital, said.
“This transaction is especially meaningful since the business was acquired from Oracle only 15 months earlier, and we launched the process in the middle of a global pandemic. The management team, led by Justin, performed above and beyond, balancing running the business and supporting a competitive M&A process. The strategic fit with Telestream is ideal given the customer overlap between the two businesses,” Scott Rhodes, managing director at Citizens, said.
Citizens has acted as a financial advisor on seven M&A transactions in the software sector in 2020.
EcoDigital is a content storage management solution provider.
Telestream is a vertical software business focused on the digital media space and media workflow orchestration, including streaming and delivery technologies.
