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Sky invests in Synamedia

Joins majority shareholder Permira Funds

Sky has taken a stake in independent video software company Synamedia, previously known as Cisco’s Service Provider Video Software Solutions (SPVSS) group.

Details of the transaction have not been revealed, but global private equity firm Permira Funds remains the company’s majority shareholder.

Synamedia has over 200 pay-TV and media customers including: AT&T, Comcast, Disney, Liberty Global, Sky, Tata Sky, Verizon, Viasat and Vodafone.

Andrew Griffith, Sky’s group chief operating officer, said: “We’ve long collaborated with the team at Synamedia to help bring great content, products and entertainment to millions of customers across Europe and this investment will help deepen our innovative partnership.”

Yves Padrines, CEO of Synamedia, added: “At a time of accelerated evolution in the pay-TV industry, this investment is a fantastic endorsement of our product vision, R&D roadmap and service portfolio from Sky, Europe’s leading media and entertainment company.”