Padrines rejoins Peled in Permira-backed venture
June 5, 2018
Global private equity firm Permira has announced the appointment of Yves Padrines as incoming Chief Executive Officer for the new company to be formed from Cisco’s Service Provider Video Software Solutions (SPVSS) business, effective upon closing of the transaction revealed on May 1st 2018.
Padrines will join from Cisco, where, as Vice-President of Global Service Provider for Europe, Middle East, Africa and Russia, he was responsible for all Cisco products and services business for major telecommunications, mobile and cable operators, broadcasters and media companies as well as cloud and managed service providers. He has also held general management and senior executive roles during his previous tenure at NDS from 2004-2012. Before joining NDS, Padrines served in various capacities in sales, product management, finance and management consulting with large international companies in the media and technology industries.
“I am delighted and looking forward to working again with Dr. Abe Peled and Permira on this unique opportunity to help the company’s major DTH and Cable service provider customers embrace IP distribution to complement and expand consumer choice and convenience, as well as the company’s Telco customers and new entrants to pay-TV take advantage of the new IP enabled distribution opportunities,” said Padrines. “At this pivotal time in the industry, the new company will build on Cisco’s SPVSS business, strong customer relationships and technology innovation to deliver an exciting next chapter for our industry, and I look forward to being part of it.”
“I am thrilled and looking forward to be working again with Yves, upon the closing of the transaction,” declared Peled. “Yves is well known to many of the company’s major customers and is well positioned to ensure a smooth transition for Cisco’s service provider customers who will also become the new company’s video customers. Furthermore, Yves will bring a wealth of experience, industry relationships and strategic vision to deliver on the significant opportunities we see for the new business.”
“We look forward to supporting Yves and the team as they build on Cisco’s innovations and investments in the pay-TV industry and create a standalone company focused on developing next generation technology for its customers throughout the world,” said Ryan Lanpher, a Principal of Permira’s Technology team.
On May 1st 2018, Permira and Cisco announced that a company backed by the Permira funds had entered into a definitive agreement to acquire Cisco’s Service Provider Video Software Solutions (SPVSS) business. Following the close of the transaction, the Permira funds will create a new, rebranded company focused on developing and delivering video solutions for the pay-TV industry. The new company will encompass a broad portfolio, including Cisco’s Infinite Video Platform, cloud digital video recording, video processing, video security, video middleware, and services groups.