European media and entertainment company Sky has invested in Synamedia, an independent video software provider, joining majority shareholder Permira as a shareholder in the company. Both Sky and its parent company Comcast are long-time Synamedia customers as well as strategic development partners.
“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,” said Sky Group Chief Operating Officer (COO) Andrew Griffith.
“At a time of accelerated evolution in the pay-TV industry, this investment is a fantastic endorsement of our product vision, Research and Development (R&D) roadmap and service portfolio from Sky, Europe’s leading media and entertainment company,” Synamedia CEO Yves Padrines added.
As an independent firm backed by both the Permira funds and Sky, Synamedia’s mission is to help customers maximize the return on their existing infrastructure while laying the foundations for a blended broadcast/Over the Top (OTT) multi-screen model that will aims to deliver improved consumer choice and convenience.