Francisco Partners has acquired SintecMedia, a well-known provider of broadcast business management software.
Financial details of the transaction were not made public. However, according to Reuters, the deal was valued at approximately $400 million.
Francisco Partners is a technology-focused private equity firm. Francisco has existing familiarity with the media technology sector having purchased Grass Valley from Technicolor in January 2011 . Francisco operated Grass Valley for nearly four years before exiting the investment in 2014 with Grass Valley’s sale to Belden.
SintecMedia had been owned by private equity firm Riverwood Capital. Riverwood acquired SintecMedia in 2010 from existing venture capital investors including Walden Israel and Sequoia Capital. Riverwood then supported SintecMedia through a series of acquisitions including Argo Systems , StorerTV , and more recently Broadway Systems. In early 2014 Riverwood provided almost half the financing to support Sintec’s acquisition of competitor Pilat Media in a transaction valued at $103.5 million.
In the press release announcing the transaction, CEO and co-Founder of SintecMedia Amotz Yarden, stated, “Nothing is changing in SintecMedia’s business operations. We will continue to play a pivotal role in the way advertising is bought, sold and managed in the diverse media industry and our customers will continue to receive future-proof technological continuity combined with our innovative aptitude and deep domain expertise. I look forward to many years of exciting growth.”
Matt Spetzler from Francisco Partners added, “We have followed SintecMedia for over six years and are thrilled to back the company and its management team as they continue to consolidate their leading position in helping media companies monetize their assets. The broadcast and media industries are entering a phase of innovation and change and SintecMedia is uniquely positioned to help customers capitalize on this opportunity with a strong market position and new products.”
Press Release: Francisco Partners Acquires SintecMedia
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