Yves Padrines is to be the CEO of the new company to be created when the Permira-backed acquisition of Cisco’s service provider video software solutions business is completed.
Padrines will join from Cisco, where as vice-president of global service provider for Europe, Middle East, Africa and Russia, he was responsible for all Cisco products and services business for major telecommunications, mobile and cable operators, broadcasters and media companies as well as cloud and managed service providers. He has also held general management and senior executive roles during his previous tenure at NDS from 2004-2012. Before joining NDS, he served in various capacities in sales, product management, finance and management consulting with large international companies in the media and technology industries.
Cisco’s board approved the sale of the business at the beginning of May, in a deal that will see former NDS CEO Abe Peled, who has been acting as advisor to the Permira funds, return to the video technology business as chairman of the new venture.
“I am delighted and looking forward to working again with Dr Abe Peled and Permira on this unique opportunity to help the company’s major DTH and cable service provider customers embrace IP distribution to complement and expand consumer choice and convenience, as well as the company’s Telco customers and new entrants to pay TV take advantage of the new IP enabled distribution opportunities,” said Padrines.
“At this pivotal time in the industry, the new company will build on Cisco’s SPVSS business, strong customer relationships and technology innovation to deliver an exciting next chapter for our industry, and I look forward to being part of it.”
The new company will take over product lines including Cisco’s Infinite Video Platform, cloud digital video recording, video processing, video security, video middleware, and services groups.
The agreement is expected to close in Cisco’s financial first quarter for its 2019 financial year, meaning the third financial quarter of this year.
Peled said, “I am thrilled and looking forward to be working again with Yves, upon the closing of the transaction. Yves is well known to many of the company’s major customers and is well positioned to ensure a smooth transition for Cisco’s service provider customers who will also become the new company’s video customers. Furthermore, Yves will bring a wealth of experience, industry relationships and strategic vision to deliver on the significant opportunities we see for the new business.”
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17th November 2019