LONDON, Jan. 8, 2019 /PRNewswire/ -- Synamedia, the largest independent video software provider, today announced that Sky, Europe's leading media and entertainment company, has taken a stake in the business, joining 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.
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."
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 boasts a workforce of thousands located primarily in the US, UK, Israel, India, Belgium, China and Canada.
As an independent business, Synamedia is committed to providing the world's most complete, secure and advanced end-to-end open video delivery solution. Building on more than 30 years of expertise, the firm is the largest global provider of video solutions, trusted by over 200 top satellite DTH, cable, telco and OTT operators, content owners and broadcasters. Synamedia, formerly Cisco's SPVSS business, is backed by the Permira funds and Sky.
With 23 million customers across seven countries, Sky is Europe's leading media and entertainment company and is proud to be part of the Comcast group.
We have 31,000 colleagues and together we want to connect our customers to more of what they love, including our award-winning original productions, like Patrick Melrose and Save Me, and great shows from our partners including HBO, Showtime and Warner Bros. And our ever improving technology makes it even easier for customers to watch more of the shows they love with personalised recommendations and voice control and, our online streaming service, NOW TV, brings all the enjoyment of Sky with the flexibility of a contract free service.
We treat our customers better than anyone else in our field, as Ofcom's complaints data shows, and we look after our staff too. Sky is one of The Times Top 50 employers for women and we're in Stonewall's list of Top 50 LGBT-Inclusive employers.
We also use our position as the leading entertainment business in Europe to do the right thing. As part of Sky Ocean Rescue campaign we're committing to be completely single-use plastic free by 2020, we're investing £25million over five years in ocean-saving tech and we're supporting the WWF to protect our oceans with designated Marine Protected Areas.
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