SintecMedia Acquires Pay TV Industry Expert Argo Systems
Second Acquisition in 2013 Targets North American Markets
NEW YORK, Jan. 22, 2013 /PRNewswire/ -- SintecMedia, the leading broadcast management software provider, today announced the acquisition of Argo Systems, a leading provider of business solutions to the cable network and operators industry. The deal brings together SintecMedia's powerful OnAir® scalable, all-in-one broadcast management solution for media companies and its line of related products with Argo Systems' unparalleled management solutions exclusively designed for Pay TV channels and multichannel video distributors. This is SintecMedia's second acquisition in the North American market, complementing its recent purchase of StorerTV.
Argo Systems bridges the business needs of television networks and their counterparts on the cable operator side with its Medea and Nestor systems that are installed across more than 300 cable networks and operators around the globe. DecisionPoint, an M&A advisor for middle-market technology companies, represented Argo in this transaction.
"SintecMedia's acquisition of Argo Systems will further augment our local activities in the North American cable television and MSO markets," stated SintecMedia CEO Amotz Yarden. "Its team and suite of products have gained the respect of every television executive in the industry. Argo Systems will increase SintecMedia's footprint and capabilities, boost our U.S. presence in terms of local support including software engineers, technicians as well as other professionals and delivery resources that will enable us to supply a greater array of broadcast and digital media solutions."
Argo Systems' President Doug Calahan affirmed, "Merging with SintecMedia is a testament to our solutions' strengths, opens new international markets and spurs further growth in North America. Combining the products and capabilities of SintecMedia, along with its newly acquired StorerTV and now Argo Systems creates powerful platforms to take the industry into the future."
"This acquisition represents a major step in SintecMedia's growth strategy to raise our North American presence by investing in a combination of both acquisitions, such as this of Argo Systems and earlier this month of StorerTV as well as organic growth initiatives," commented Amir Lavi, Executive Vice President and head of SintecMedia U.S. sales. "In a global digital market, our customers require a wide range of solutions to enhance revenues and adding Argo Systems to our comprehensive OnAir media management core advances this goal."
Yarden added, "We welcome Argo Systems to the SintecMedia family and look forward to working closely with their developers, implementation and support staff professionals to meet the U.S. market's growing needs."
OnAir combines traffic, sales, and programming in a single framework to address the most pressing issues facing broadcasters and media makers including comprehending multiple information levels, integrating linear and non-linear capabilities and managing a full range of assets.
About Argo Systems
Argo Systems is a software company with expertise in providing business critical management solutions exclusively designed for the Pay TV industry. Argo Systems' software solutions process billions of dollars annually in programming revenues via Medea for pay TV channels worldwide and programming expenses via Nestor for our multichannel operator clients. To date, the Medea and Nestor systems are preferred by more than 300 networks and operators around the globe, including major media companies such as NBCUniversal, Fox, Comcast, and Time Warner.
Argo Systems is based in Atlanta, GA.
SintecMedia is a leading global provider of management solutions designed to meet the dynamic needs of broadcasters, media companies, cable MSOs and station groups. OnAir, SintecMedia's core product, is employed by leading networks in Europe, Asia and North America for managing airtime sales, traffic, programming, and new media. OnAir combines traffic, sales, and programming in a single framework to address the most pressing issues facing broadcasters and media makers including comprehending multiple information levels, integrating linear and non-linear capabilities and managing a full range of assets. North American clients include NBCUniversal, ABC, CBC Canada and Televisa Mexico.
SintecMedia has a staff of over 300 employees with offices in New York, Denver, London and Jerusalem and is backed by the private equity firm Riverwood Capital (www.riverwoodcapital.com). Please visit www.sintecmedia.com.
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