According to a report from Multichannel News, the leading source of information for the cable television and satellite television trade, SintecMedia has acquired Argo Systems, a company that sells software to cable networks and pay TV operators for managing content distribution deals.
Here is more information from Multichannel News:
Argo Systems’ customers include Comcast, Fox Cable Networks, Suddenlink Communications, AMC Networks, NBCUniversal, BBC America and A+E Networks UK. The Atlanta-based company says its software is used by more than 300 cable networks and operators worldwide.
For cable networks, Argo Systems’ Medea software provides a way to track affiliate revenue and distribution deals. On the other side of the chain, the company’s Nestor suite of applications lets pay TV operators manage programming contracts, budget and automate payments.
“SintecMedia’s acquisition of Argo Systems will further augment our local activities in the North American cable television and MSO markets,” SintecMedia CEO Amotz Yarden said in announcing the acquisition. “Argo Systems will increase SintecMedia’s footprint and capabilities, boost our U.S. presence in terms of local support including software engineers, technicians as well as other professionals and delivery resources that will enable us to supply a greater array of broadcast and digital media solutions.”
Added Argo Systems president Doug Calahan, “Merging with SintecMedia is a testament to our solutions’ strengths, opens new international markets and spurs further growth in North America.”
Privately held SintecMedia has 300 employees with offices in New York, Denver, London and Jerusalem, Israel. The company is backed by private equity firm Riverwood Capital. According to SintecMedia, 50 employees from Argo and another 40 from StorerTV are joining the company.
SintecMedia’s flagship OnAir software combines traffic, sales and programming management features for broadcasters. North American clients include NBCUniversal, ABC, CBC Canada and Televisa Mexico.
Argo was represented in the transaction by DecisionPoint, a mergers and acquisition advisor to middle-market technology companies.
More information as it becomes available from the TV, Internet and Phone Blog.