Broadcast management software solutions provider SintecMedia has acquired US company StorerTV, which provides media program and contract rights management software solutions for the television broadcast and cable industry. No details of the acquisition were disclosed but market sources believe that SintecMedia paid several tens of millions of dollars.
SintecMedia CEO Amotz Yarden said, "The opportunity to acquire StorerTV, one of the industry's most recognized names in the US, bolsters SintecMedia's North American presence. The acquisition enables us to extend our product line and effectively makes SintecMedia one of the most powerful vendors in the global media business solutions market."
SintecMedia was founded in 2000 as a start up and underwent many changes before being acquired by Riverwood Capital in 2010 for $110 million. Customers of its systems which manage sales, and measure viewing figures include NBC, Universal, ABC, and CBC Canada. The company has its development center in Jerusalem.
Published by Globes [online], Israel business news - www.globes-online.com - on January 9, 2013
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