Traffic & billing vendor SintecMedia announced that it will acquire Argo Systems, a provider of business solutions to the cable network and operators industry.
This is SintecMedia’s second acquisition in the North American market, complementing its recent purchase of StorerTV.
Argo Systems bridges the business needs of television networks and their counterparts on the cable operator side with its Medea and Nestor systems that are installed across more than 300 cable networks and operators around the globe. DecisionPoint, an M&A advisor for middle-market technology companies, represented Argo in this transaction.
“SintecMedia’s acquisition of Argo Systems will further augment our local activities in the North American cable television and MSO markets,” stated SintecMedia CEO Amotz Yarden. “Its team and suite of products have gained the respect of every television executive in the industry. Argo Systems will increase SintecMedia’s footprint and capabilities, boost our U.S. presence in terms of local support including software engineers, technicians as well as other professionals and delivery resources that will enable us to supply a greater array of broadcast and digital media solutions.”
Argo Systems’ President Doug Calahan said, “Merging with SintecMedia is a testament to our solutions’ strengths, opens new international markets and spurs further growth in North America. Combining the products and capabilities of SintecMedia, along with its newly acquired StorerTV and now Argo Systems creates powerful platforms to take the industry into the future.”
“This acquisition represents a major step in SintecMedia’s growth strategy to raise our North American presence by investing in a combination of both acquisitions, such as this of Argo Systems and earlier this month of StorerTV as well as organic growth initiatives,” commented Amir Lavi, Executive Vice President and head of SintecMedia U.S. sales. “In a global digital market, our customers require a wide range of solutions to enhance revenues and adding Argo Systems to our comprehensive OnAir media management core advances this goal.”
SintecMedia is owned by PE firm Riverwood Capital Management, who purchased the company in 2011 for approximately $110m.
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