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17/12/2004

PESA Switching Systems acquired by QuStream

PESA Switching Systems, a leading provider of analogue and digital video and audio equipment, has been acquired by the private equity group QuStream Corporation, which intends to support the continued growth of PESA through further investment in product development and additional acquisitions.
QuStream Corporation's founder, president and CEO is industry veteran Fred Godard, whose experience includes tenure as president of Leitch during its growth phase in the late 1990s.
With the acquisition, PESA has appointed Steve Miller to the position of president and COO. Miller joins PESA from Thomson Broadcast, where he spent the past four years as Director of Engineering for modular products. Previously he spent 18 years with Leitch in various roles, including Vice President/COO of the server division, Vice President of sales, and Vice Ppresident of engineering. Miller will relocate to PESA's Huntsville office.
"QuStream has been seeking the right organisation with the right product line to serve as the cornerstone of a larger industry group that will address the needs of today's broadcasters and video professionals," said Godard. "The industry is in a period of rapid change, and with PESA's solid product line, reputation for technology leadership, well-tuned sales organization, and attention to customer support, the company has an established position in today's market. We believe that with some additional investment and strategic direction the company will become a global leader in the professional video marketplace."
(GB)
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