MENLO PARK, Calif.--(BUSINESS WIRE)--Permira, the global private equity firm, today announced the appointment of Yves Padrines as incoming Chief Executive Officer for the new company to be formed from Cisco’s Service Provider Video Software Solutions (SPVSS) business, effective upon closing of the transaction.
Yves Padrines will join from Cisco, where as Vice-President of Global Service Provider for Europe, Middle East, Africa and Russia, he was responsible for all Cisco products and services business for major telecommunications, mobile and cable operators, broadcasters and media companies as well as cloud and managed service providers. He has also held general management and senior executive roles during his previous tenure at NDS from 2004-2012. Before joining NDS, Yves served in various capacities in sales, product management, finance and management consulting with large international companies in the media and technology industries.
“I am delighted and looking forward to working again with Dr. Abe Peled and Permira on this unique opportunity to help the company’s major DTH and Cable service provider customers embrace IP distribution to complement and expand consumer choice and convenience, as well as the company’s Telco customers and new entrants to Pay-TV take advantage of the new IP enabled distribution opportunities,” said Mr. Padrines. “At this pivotal time in the industry, the new company will build on Cisco’s SPVSS business, strong customer relationships and technology innovation to deliver an exciting next chapter for our industry, and I look forward to being part of it.”
Dr. Abe Peled, Senior Adviser to Permira and incoming Chairman of the new company, said, “I am thrilled and looking forward to be working again with Yves, upon the closing of the transaction. Yves is well known to many of the company’s major customers and is well positioned to ensure a smooth transition for Cisco’s service provider customers who will also become the new company’s video customers. Furthermore, Yves will bring a wealth of experience, industry relationships and strategic vision to deliver on the significant opportunities we see for the new business.”
“We look forward to supporting Yves and the team as they build on Cisco’s innovations and investments in the Pay-TV industry and create a standalone company focused on developing next generation technology for its customers throughout the world,” said Ryan Lanpher, a Principal of Permira’s Technology team.
Background to the acquisition
On 1 May 2018, Permira and Cisco (NASDAQ: CSCO) announced that a company backed by the Permira funds had entered into a definitive agreement to acquire Cisco’s Service Provider Video Software Solutions (SPVSS) business. Following the close of the transaction, the Permira funds will create a new, rebranded company focused on developing and delivering video solutions for the Pay-TV industry. The new company will encompass a broad portfolio, including Cisco’s Infinite Video Platform, cloud digital video recording, video processing, video security, video middleware, and services groups.
Permira is a global investment firm. Founded in 1985, the firm advises private equity funds with a total committed capital of over €33bn and makes long-term investments in companies with the objective of transforming their performance and driving sustainable growth. The Permira funds have made over 200 private equity investments in five key sectors: Consumer, Technology, Industrials, Healthcare and Financial Services. The Permira funds have a long track record of successfully investing in technology companies around the world having deployed over $9bn (€8bn) in this strategy. Current and past investments have included: Allegro, Ancestry.com, Genesys, Informatica, LegalZoom.com, Magento, NDS, Renaissance Learning, TeamViewer, Teraco and Exclusive Group. Permira employs over 200 people in 14 offices across Europe, North America and Asia. For more information please visit www.permira.com.