TORONTO – Telus today announced that it has acquired privately held Fastvibe Corporation, a provider of innovative Web streaming solutions for business.
The purchase price was not disclosed.
Billed as a “green purchase” by Telus, the company will use Fastvibe’s web streaming technology to help Canadian businesses reduce travel and improve communications
The Fastvibe team brings unique technical, event and production Web streaming management expertise to Telus, says the press release. The acquisition strengthens Telus’ technology solutions portfolio by offering Canadian businesses an environmentally responsible and cost effective way to deliver information like training, employee communications and investor information to staff and stakeholders who are geographically dispersed.
“We are very pleased to welcome the Fastvibe team to Telus,” said David Fuller, senior vice-president, solutions and products, Telus Business Solutions. “Business today is global. By acquiring one of Canada’s most successful and innovative web streaming providers, Telus can provide our customers with another leading collaboration solution that allows them to reduce travel while improving the quality of communications for business.”
Fastvibe’s custom application takes live or pre-recorded video and audio, and custom-wraps it with an organization’s communication tools including logo, brand colours, images and PowerPoint presentations. The webcast is supplied with a quality of video service “that is superior to any other product in the market,” claims the release. The software also provides for chat, question and answer, and polling capabilities.
"This is a positive development for our company, our customers and our employees,” said Tim Macklaier, president and chief executive officer of Fastvibe. “The strategic combination of our two companies will allow us to leverage the strength of Telus’ brand and broad market reach to significantly grow our services in Canada and globally."
Launched in 2000, Fastvibe currently serves 130 corporate customers including Bank of Montreal, Bank of Nova Scotia, Barrick Gold, Trans Canada Pipelines, Ministry of Education of Ontario, Torstar and Investors Group.
Web streaming is a rapidly growing market. In Canada alone, the market is currently estimated at $69 million and is expected to grow to $203 million by 2011 as more Canadian businesses adopt innovative Internet-based technologies to improve communications and reduce environmental impact.
