Synamedia is a provider of security and distribution solutions to satellite and cable operators and broadcasters.
Synamedia (formerly Cisco’s Service Provider Video Software Solutions business), is a leading video software solutions provider serving Cable, Telecom, Over-the-Top and Direct-to-Home operators. The business consists of NDS, which provides smartcards and software solutions for set top boxes, and IVP (Infinite Video Platform), which provides cloud access and video processing offerings.
Insight & Approach
Permira sold Synamedia’s NDS segment to Cisco in 2012. In 2017, Cisco launched a process to divest NDS and other related assets. Permira was the logical acquirer given their familiarity with the business and ability to engage the pre-Cisco management team and announced an agreement to repurchase the business from Cisco. Vector provided a $100 million second lien term loan to support the transaction, which closed in October 2018.
Vector Value Add
Vector’s expertise in providing flexible capital solutions combined with our deep understanding of Synamedia and the video infrastructure sector allowed our private equity and credit teams to diligence, structure, and underwrite the $100 million second lien financing.