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Vector Capital Provides $100 Million Second Lien Term Loan to Support Permira's Acquisition of SynamediaVector Capital, a leading private equity firm specializing in transformational investments in established technology businesses, today announced that it has provided a $100 million second lien term loan to support the Permira Funds' acquisition of Synamedia from Cisco (News - Alert). Synamedia (formerly Cisco's Service Provider Video Software Solutions business), is a leading video software solutions provider serving Cable, Telecom, Over-the-Top and Direct-to-Home operators. The business consists of NDS, which provides smartcards and software solutions for set top boxes, and IVP (Infinite (News - Alert) Video Platform), which provides cloud access and video processing offerings. Nick Ghoussaini, a Portfolio Manager at Vector Capital and co-head of the firm's Credit Strategy, said, "Synamedia is the market leader in the dynamic pay-TV, cloud and video access markets. We are pleased to offer the Permira Funds wth the flexible financing this transaction required." "Vector Capital's deep expertise investing in technology companies undergoing a transformation made them the ideal partner for us," said Nic Volpi, a Partner at Permira. Morrison & Foerster LLP served as legal counsel to Vector Capital.
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