The company being created from the sale of Cisco’s Service Provider Video Software Solutions business to a company backed by the Permira funds is unveiled as Synamedia, preceding the transaction closure expected in first half of Cisco’s FY19.
‘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 optimise their current infrastructure and capitalise 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 localisation,” said Yves Padrines (pictured), 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.”
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.