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.
Synamedia was unveiled as the name for the ex-Cisco video business in September and the company set out its vision and investment focus as a newly independent company at IBC later the same month, stressing that innovation will be at the heart of its strategy.
With its official launch, the company announced that it has also broadened its senior team by appointing former Rovi and TiVo chief revenue officer, Dave Longaker, as senior vice president and general manager, Americas.
Longaker will be tasked with expanding customer relationships throughout the region and takes responsibility for sales, marketing, partners and delivery in the Americas. His industry experience also includes 15 years in senior sales roles at Alcatel-Lucent and Nortel.
“Dave’s strong industry experience, his years of success in building close, long-term customer relationships, and his striking track record in leading businesses through high-growth periods make him the ideal candidate to lead Synamedia’s Americas business,” said Yves Padrines, CEO of Synamedia.
Synamedia’s technologies include video platform, cloud digital video recording, video processing, video security and client software solutions – which are protected by a portfolio of 590 patents. Its workforce is based across the US, UK, Israel, India, Belgium, China and Canada.
The company goes live with more than 200 pay TV and media customers, including AT&T, beIN, Bharti Airtel, Charter, Comcast, Cox, Disney, Foxtel, Liberty Global, OSN, Rogers, Sky, Tata Sky, Verizon and Vodafone.
“While we are in a golden age of TV, our customers face challenges including the rising cost of content, soaring piracy levels, and the impact of large OTT challengers on the market,” said Padrines.
“As an independent entity focused on this sector, we will help our customers optimize their current infrastructure and capitalise on OTT and IP distribution to expand consumer choice and convenience, secure their income and generate new revenue streams.”
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