Synamedia sells video networking business to Lumine Group

Synamedia says it is entering a new phase focused on helping operators rebuild audience engagement and simplify video operations, following Lumine Group’s agreement to acquire its Video Network business.

The transaction, which is subject to customary closing conditions and employee consultation processes, will see the Video Network operation become part of Lumine Group’s growing media software portfolio. Following completion, the business will operate independently under the Quortex brand.

Toronto-based Lumine described the acquisition as its 16th corporate carve-out transaction and said it would strengthen its position in video processing, broadcast delivery and live streaming.

“The Synamedia Video Network business will be a meaningful addition to Lumine’s growing media ecosystem,” said Tony Garcia, chief operating officer at Lumine Group. “This acquisition will deepen our presence in the media supply chain domain, with particular focus on video processing, broadcast delivery and live streaming.”

Quortex provides cloud, on-premise and hybrid video delivery technologies used by broadcasters, media companies, telcos and streaming providers. Its portfolio includes solutions supporting the transition from satellite to IP distribution, live streaming and preparation for the forthcoming C-Band transition in the United States.

The sale comes as Synamedia unveils what it describes as its “next chapter”, focused on helping operators compete more effectively in the battle for audience attention.

Chief executive Paul Segre said changing viewing habits and growing competition from mobile and social platforms were forcing operators to rethink traditional television experiences.

“For too long, the video industry has watched the battle for audience attention move elsewhere,” Segre said. “Consumer expectations have changed, economic pressures have increased, and operators need new ways to engage viewers, grow audiences and compete effectively.”

Following the separation, Synamedia will concentrate on its integrated portfolio of Go, Senza, Iris, ContentArmor and Gravity.

The company says the products are designed to help operators increase audience engagement, accelerate monetisation and simplify operations. Recent developments include the launch of Go Shorts, which introduces short-form video experiences, and Senza Ignite, which enables operators to modernise existing devices through cloud-rendered user interfaces without replacing hardware.

“This transaction will create two distinct businesses with clear strategic direction and strong category positioning,” added Segre. “Allowing both to move faster, innovate more effectively and deepen the value they deliver to customers around the world.”

Synamedia serves operators and media companies including MTN Group, Mileto Tecnologia, Partner Communications and BFBS. Broadband TV News