US financial investor KKR has acquired a 5.2% stake in German commercial broadcaster ProSiebenSat.1.
Synamedia is open for business following the completion of Permira funds’ acquisition of Cisco’s Service Provider Video Software Solutions (SPVSS) group.
Permira has announced it has appointed Yves Padrines as incoming Chief Executive Officer for the new company that’s being formed out of Cisco’s Service Provider Video Software Solutions (SPVSS) business.
Former NDS chairman and CEO Abe Peled will be the chairman of a new company created after Cisco sold its Service Provider Video Software Solutions (SPVSS) business to the private equity firm Permira.
KKR & Co and Permira Advisers sold their 16.6% interest in German broadcasting group ProSiebenSat.1 Media AG for around €1.26 billion.
Investment firms KKR and Permira have appointed JPMorgan to advise on options for a potential partial or full exit out of ProsiebenSat.1, according to reports in the FT and Bloomberg.