LONDON, Sept. 4, 2018 /PRNewswire/ -- The new company to be formed from the sale of Cisco's Service Provider Video Software Solutions (SPVSS) business to a company backed by the Permira funds today is unveiled as Synamedia. "Syna" means "together" in Greek, reflecting Synamedia's ambition to bring together broadcast and OTT media services and enable clients to deliver exceptional customer experiences.
With the transaction expected to close in the first half of Cisco's FY19, Synamedia's executive team will outline the new company's vision and plans at IBC 2018. The emphasis will be on continuing to provide the world's most complete, secure and advanced end-to-end open video delivery solution.
New and enhanced video solutions from Cisco SPVSS's portfolio that will move to Synamedia will be showcased at IBC on the Cisco stand (1.A71). They all reflect Synamedia's singular focus: to empower telcos, media, and pay-TV providers to optimize their current infrastructure and capitalize on OTT distribution to expand consumer choice and convenience, secure their revenue streams, and develop new offerings.
"Synamedia enters the market at a time when the TV landscape is being redrawn. Building on a 30-year heritage in the pay-TV industry, a market leadership position, and an unrivalled reputation for innovation, we will hit the ground running as a private, independent entity committed to help customers boost engagement and revenues by capitalising on the myriad opportunities that IP distribution and cloud-based services bring," said Dr. Abe Peled, incoming chairman of Synamedia.
"From day one we will be the vendor with the ability to deliver products on a global scale while also offering the flexibility required for market localization," said Yves Padrines, incoming CEO for Synamedia and currently vice president of Global Service Provider for Europe, Middle East and Africa at Cisco. "We will intensify our focus on innovation, building even closer links with our customers and ensuring that we continue to provide the world's most complete, secure and advanced end-to-end video delivery solution."
Press and analysts are invited to hear Synamedia's vision and plans at a press conference at 14:30 CET on Friday 14th September 2018 at the Beach House at the RAI. RSVP to firstname.lastname@example.org
Note to Editors:
Cisco will retain the video and media technology related to its core business in networking, multi-cloud, security, data, and collaboration. The transaction is expected to close in the first half of Cisco's FY19, subject to any regulatory approvals and customary closing conditions.
As an independent business, Synamedia will have a singular focus on empowering traditional and new pay-TV operators to drive new revenues through exceptional subscriber experiences. Building on more than 30 years of expertise, the firm will be the largest global provider of video solutions, trusted by top global and local satellite DTH, cable, telco and OTT operators, content owners and broadcasters.
Headquartered in London, with a strong global presence, Synamedia will be the only vendor with a portfolio of offerings across the video experience including content protection, middleware development, cloud video recording, video processing, and video distribution.
Permira is a global investment firm. Founded in 1985, the firm advises funds with a total committed capital of approximately €32bn and makes long-term investments in companies with the objective of transforming their performance and driving sustainable growth. The Permira funds have made over 250 private equity investments in five key sectors: Consumer, Technology, Industrials, Healthcare and Financial Services.
The Permira funds have a long track record of successfully investing in technology companies around the world including Allegro, Ancestry.com, Genesys, Informatica, LegalZoom.com, Magento, NDS, Renaissance Learning, TeamViewer, Teraco and others. Permira employs over 200 people in 14 offices across Europe, North America and Asia.