Lumine Group is expanding its presence in the media technology sector through an agreement to acquire the video network business of Synamedia, a move that will deepen the company’s footprint in video processing, broadcast delivery and live streaming technologies.
The transaction announced on Tuesday will become Lumine Group’s 16th corporate carve-out acquisition upon closing. Financial terms of the deal were not disclosed.
The business being acquired includes Quortex, a video technology platform that provides cloud, on-premise and hybrid solutions to broadcasters, media companies, telecommunications providers and streaming services. Following the transaction, Quortex will operate as an independent business within Lumine Group’s portfolio, consistent with the company’s decentralized operating model.
Lumine Group, which specializes in acquiring and holding communications and media software businesses for the long term, said the addition will strengthen its growing ecosystem of media technology companies.
“The Synamedia Video Network business will be a meaningful addition to Lumine’s growing Media ecosystem,” Tony Garcia, the Chief Operating Officer of Lumine Group, said in a statement. “This acquisition will deepen our presence in the media supply chain domain, with particular focus on video processing, broadcast delivery and live streaming.”
Garcia said Quortex’s expertise and customer relationships would complement Lumine’s existing operations while allowing the business to continue operating independently.
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Editor’s note: An earlier version of this story erroneously reported Synamedia had acquired Lumine’s video network business.
