Sky buys into Synamedia

European media and entertainment company Sky has taken a stake in Synamedia, formerly Cisco's Service Provider Video Software Solutions ...

European media and entertainment company Sky has taken a stake in Synamedia, formerly Cisco's Service Provider Video Software Solutions (SPVSS) group. Sky joins majority shareholder the Permira funds.

Both Sky and its parent company Comcast (NASDAQ:CMCSA) are longtime Synamedia customers as well as strategic development partners. Comcast bought Sky last October.

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, said: "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."

Synamedia is at the International CES in Las Vegas this week, showcasing its video security portfolio, ABR and IP video processing, in-home streaming video management, and a cloud service platform for pay TV.

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