Both Sky and its parent company Comcast are long-time Synamedia customers, through NDS and Cisco, as well as strategic development partners.
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.”
Sky has a history of taking equity stakes in its technology partners, such as NOW TV box manufacturers Roku, and the 2007 purchase of Amstrad.
Yves Padrines CEO of Synamedia, added: “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.”
As an independent firm backed by both the Permira funds and Sky, Synamedia’s mission is to help customers maximise the return on their existing infrastructure while laying the foundations for a blended broadcast/OTT multi-screen model that will deliver improved consumer choice and convenience while protecting income and opening up new revenue streams.
Synamedia customer base of over 200 also includes AT&T, Astro, beIN, Bharti Airtel, Charter, China DTH, Cox, Disney, Foxtel, Get, Liberty Global, Oi, OSN, Rogers, Shaw, Tata Sky, Verizon, Viasat and Vodafone.
During its working relationship with Sky the former NDS developed Sky’s Red Button, the Interactive Betting Platform, Simultaneous Record, Pause & Rewind Live TV, the groundbreaking targeted advertising solution Sky AdSmart, and the award-winning Sky Q.