NEVADA CITY, Calif. -- Telestream, the leading global provider of multiformat media encoding and file-based delivery solutions for the broadcast and entertainment industry, today announced that it has completed the acquisition of Popwire from Teleca, a telecommunications leader. The acquisition adds the products, technologies and employee resources of Swedish-based Popwire to those of US-based Telestream, Inc, a privately held company. Effective immediately, Popwire will operate as Telestream AB, a wholly-owned subsidiary of Telestream, and will continue to be located in Sweden.

"Popwire includes incredibly talented individuals and extremely well-engineered products which fit nicely with our existing Flip4Mac and Workgroup and Enterprise product offerings," said Dan Castles, CEO of Telestream. "Having the resources to make this acquisition happen reflects eight years of building our company into the successful business it is today. Telestream now has the deepest transcoding expertise in the industry with the broadest technology and products implemented on both Mac and Windows platforms. Our solutions serve a broad spectrum of media workflows from the consumer to the compression expert all the way up to complex enterprise workflows. As industry needs continue to grow, this acquisition enables us to better offer more diverse media encoding applications."

"Telestream is an excellent fit for both Popwire employees and our products," said Oskar Boding, Business Unit Manager of Popwire (now Telestream AB). "Telestream's experience in broadcast and successful global commercialization will provide tremendous leverage for our product offerings. This also broadens availability of our products for workgroup and enterprise customers as well as for the increasing number of Mac OS X professionals around the world."

Telestream Internet Services Inc.