Synamedia emerges after acquiring Cisco's video services business

After Cisco sold off its Service Provider Video Solutions business to private equity firm Permira earlier this year, a new company called Synamedia has risen from those assets.

Former NDS chairman and CEO Abe Peled has been tapped as chairman of the new company, and Yves Padrines, current vice president of global service provider EMEA for Cisco, will be CEO. The company is being announced ahead of finalizing the Cisco deal, which is expected to close in the first half of 2019.

Synamedia, which will discuss its plans and strategy further during a media event at IBC this year, intends to work with telcos, media and pay TV on their current infrastructure and on building OTT distribution. The company plans to enhance its VideoGuard anti-piracy service, boost its investment in Evo middleware, add Android TV and RDK support for the Infinite Video platform and offer cloud DVR, multicast adaptive bit rate streaming and low-latency video streaming technology.

“Synamedia enters the market at a time when the TV landscape is being redrawn. Building on a 30-year heritage in the pay-TV industry, a market leadership position, and an unrivaled reputation for innovation, we will hit the ground running as a private, independent entity committed to help customers boost engagement and revenues by capitalizing on the myriad opportunities that IP distribution and cloud-based services bring,” said Peled in a statement.

RELATED: Cisco gets out of the video business, sells SPVSS back to Permira for reported $1B

“From day one we will be the vendor with the ability to deliver products on a global scale while also offering the flexibility required for market localization,” said Padrines in a statement. “We will intensify our focus on innovation, building even closer links with our customers and ensuring that we continue to provide the world’s most complete, secure and advanced end-to-end video delivery solution.”

The rise of Synamedia comes after Cisco’s decision in May to sell its SPVSS unit back to Permira.

"We are proud of our innovation in video and the customer momentum that the Service Provider Video group has built," said Cisco CEO Chuck Robbins in a statement. "With the leadership team and Abe as chairman, the new company is well-positioned to drive this work forward and continue to deliver the solutions that meet the current and future needs of service provider video customers. Service providers remain a key customer segment for Cisco, and we look forward to continuing to partner with them to deliver new revenue-generating services and experiences."