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Private equity firm Permira has closed its $1 billion re-purchase of Cisco’s Service Provider Video Software Solutions unit and has declared the rebranded “Synamedia” open for business.
Synamedia is open for business following the completion of Permira funds’acquisition of Cisco’s Service Provider Video Software Solutions (SPVSS) group.
Cisco Systems today completed the sale of its Service Provider Video Software Solutions Group to global investment firm Permira Funds. The newly spun-off company is called Synamedia.
Investment firm Permira has completed its acquisition of Cisco’s Service Provider Video Software Solutions (SPVSS) group, meaning Synamedia, the company created from the deal, is now open for business.
A trio of the world’s biggest networking companies are stepping back from media tech.
With the competition from OTT and media companies who are now distributing content directly to subscribers, pay-TV operators have been in search of ways to enhance their services.