Sky acquires stake in independent video software provider Synamedia

MUMBAI: European media and entertainment company Sky has taken a stake in independent video software provider Synamedia. The company joins majority shareholder the Permira funds.

Sky’s shareholding reinforces Synamedia’s position as a strategic long-term technology partner to a growing roster of market-leading pay-TV operators and media companies worldwide.

Both Sky and its parent company Comcast are long-time Synamedia customers as well as strategic development partners.

Sky Group COO Andrew Griffith 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.”

Synamedia CEO Yves Padrines said, “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.”

As an independent firm backed by both the Permira funds and Sky, Synamedia’s mission is to help customers maximise the return on their existing infrastructure while laying the foundations for a blended broadcast/OTT multi-screen model that will deliver improved consumer choice and convenience while protecting income and opening up new revenue streams.

Synamedia has over 200 pay-TV and media customers including AT&T, Astro, beIN, Bharti Airtel, Charter, China DTH, Comcast, Cox, Disney, Foxtel, Get, Liberty Global, Oi, OSN, Rogers, Sky, Shaw, Tata Sky, Verizon, Viasat, and Vodafone.

The company has a workforce of thousands located primarily in the US, UK, Israel, India, Belgium, China, and Canada.

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