Canadian software holding group Lumine has agreed to buy the video network business of UK-based Synamedia including the Quortex products, although the financial details of the deal were not disclosed.
Lumine will operate the business as a new independent company named Quortex. Synamedia is now exiting the video network and distribution technology business and will focus on areas such as video security, anti‑piracy, and streaming platforms, including cloud and advertising technologies.
Tony Garcia, chief operating officer at Lumine, said: “The Synamedia video network business will be a meaningful addition to Lumine’s growing media ecosystem. 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 CEO of Synamedia, added: “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.”
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