Permira acquired Synamedia from Cisco

Permira acquired Synamedia, a global provider of video solutions, from Cisco System, an American multinational technology conglomerate headquartered in San Jose, California. Financial terms were not disclosed. “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. As an independent entity focused on this sector, we will help our customers optimize their current infrastructure and capitalize on OTT and IP distribution to expand consumer choice and convenience, secure their income and generate new revenue streams,” said Yves Padrines, CEO of Synamedia.