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.