US private equity fund Francisco Partners has acquired Israeli company SintecMedia for $400 million. 84% of the Jerusalem based company, which has developed Internet-based management applications and software systems for broadcasters, is owned by Riverwood, another US private equity firm which bought out many of the previous investors including Sequoia Capital, Waldman, Kardan Communications and the Fishman Group.
SintecMedia was founded in 2000. In 2014 it acquired its rival Pilat Media Global Ltd., which had been traded on London's AIM, for $103 million.
This is Francisco Partners third Israeli acquisition in Israel. Last year, the US private equity firm acquired Clicksoftware for $438 million and previously it bought homeland security company NSO for over $100 million.
Published by Globes [online], Israel business news - www.globes-online.com - on April 19, 2016
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