Synamedia has entered an agreement with Lumine Group to sell its video network business unit, which will form a new, independent organisation called Quortex.
“The Synamedia Video Network business will be a meaningful addition to Lumine’s growing Media ecosystem,” said Tony Garcia, chief operating officer at Lumine Group.
“On completion, this acquisition will deepen our presence in the media supply chain domain, with particular focus on video processing, broadcast delivery and live streaming. We look forward to welcoming this global team and its customers to Lumine, to share our best practices, and to learn from their decades of industry insight.”
According to Synamedia, the transaction enables it to sharpen focus on “a singular mission to help creators win back audiences” with an integrated portfolio comprising Go, Senza, Iris, ContentArmor, and Gravity.
Paul Segre, Synamedia’s CEO, commented, “For too long, the video industry has watched the battle for audience attention move elsewhere. Consumer expectations have changed, economic pressures have increased, and operators need new ways to engage viewers, grow audiences, and compete effectively. Synamedia is dedicated to changing that dynamic. By bringing together the engagement and discovery experiences of mobile and the large screen, consumers can enjoy new experiences that were previously unimaginable and our customers, the operators, can win back audiences and thrive again.”
