Sintec Media Software System, owned by the Formula and Sintec groups, has completed a first $6 million financing round from Shamrock and Globescom, controlled by the Fishman group. The round was held at a company value of $22 million, after money.
Shamrock, managed by Stanley Gold and Roy Disney, invested $2 million in cash, plus another $700,000 option. The Fishman group invested $500,000, in addition to the $2 million it invested several months ago. The group also committed itself to investing $800,000 in option.
Stanley Media Software System develops television networks management software. The company’s OnAir software handles all programming and business activities, ranging from program acquisitions, program scheduling and management, long-term planning, promo management and airtime sales.
Among other things, the software facilitates management of interactive and digital television, cable and satellite broadcasts.
The company has already sold software to the RTL network. Company general manager Amotz Yarden said negotiations are underway other large television networks Yarden noted that the sum raised will help the company continue to develop its product and market it overseas. Initial regions for marketing are the US and Europe.
Sintec is a holding company specializing in automation, software, hardware and services.
Globescom is an investor group which invested in underwater cable networks, cable networks in Israel and overseas and publishing, among other sectors. It is also invested in start-ups CommerceMind and ISP Focus.
The Globescom group is controlled by “Globes” shareholder Eliezer Fishman.
Published by Israel's Business Arena on 13 December, 2000