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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.
Synamedia plans to invest, organically and through M&As, in areas including middleware, targeted advertising, content security and cyber-security. Here, incoming CEO Yves Padrines details to CSI the new company’s vision and roadmap.
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.
As it inches closer to wrapping up its acquisition of Cisco Systems's video software unit, Permira said the company being spawned by that deal will be called Synamedia.
The new name for Cisco’s spun off Service Provider Video Software Solutions (SPVSS) business has been revealed as Synamedia.
The rise of Synamedia comes after Cisco’s decision in May to sell its SPVSS unit back to Permira.
Private equity firm set to close on $1 billion re-purchase of Cisco unit, outline its exec team and vision at IBC.
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