Lumine Group has entered into an agreement to acquire the video network business of Synamedia, creating a new company called Quortex.
Headquartered in the UK, Synamedia is a global provider of video software solutions helping operators, broadcasters and media companies transform how video is delivered, experienced and monetised. With more than 30 years of industry expertise, Synamedia combines cloud and AI technologies, operational scale, managed services, and deep domain knowledge to support customers through the evolution of video.
“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. “On completion, this acquisition will deepen our presence in the media supply chain domain, with particular focus on video processing, broadcast delivery and live streaming. Consistent with Lumine’s decentralisation strategy, the business will operate independently under its primary product name, ‘Quortex’. We look forward to welcoming this global team and its customers to Lumine, to share our best practices, and to learn from their decades of industry insight.”
Paul Segre, chief executive officer of Synamedia, said: “This transaction on completion will mark an exciting new chapter for both Synamedia and Quortex. This will create two distinct businesses with clear strategic direction and strong category positioning, allowing both to move faster, innovate more effectively and deepen the value they deliver to customers around the world. We look forward to working closely with Lumine over the coming weeks to ensure a smooth transition for our valued employees, customers and partners.”
“This is a truly exciting time for Synamedia and our industry,” said Dr Tzvi Gerstl, GM media cloud technology, Synamedia. “The pressure to reinvent the viewing experience has never been greater, and our portfolio is now hyper-focused on helping our customers lead that transformation. By bringing together the engagement and discovery experiences audiences embrace on mobile with innovative large-screen experiences powered by cloud and AI, we are enabling operators to redefine video entertainment wherever audiences choose to watch. The battle for attention is far from over, and our platform, technology, and expertise help our customers win it.”
Lumine Group’s acquisition of Video Network is anticipated to close in the near future, subject to customary closing conditions and completion of applicable employee information and consultation processes.
