Ericsson Media Solutions has been rebranded MediaKind, following the sale of the division to private equity firm One Equity Partners.
Ericsson agreed to sell a 51% stake in the media technology company to One Equity Partners in January, with the deal expected to close during the third quarter of the year.
As well as helping to underline the company’s separation from Ericsson, MediaKind said the new brand was “designed to embody the concept that media should inspire and unite humankind”.
MediaKind Chief Executive Angel Ruiz said: “We understand the power of media and how it is evolving. It runs in our DNA and it’s our passion.
”With our pioneering heritage and strong foundations fueled by deep innovation, we have a single goal in mind: to enable our customers to create and deliver immersive media experiences.
”We are uniquely positioned to help shape and lead the future of global media technology. Our award-winning technologies, established industry heritage and forward-thinking experts equip organisations with the end-to-end technology solutions needed to embrace media of all kinds.”
Following a string of acquisitions by Ericsson, MediaKind is comprised of Aspex, Azuki Systems, Envivio, Fabrix, HyCGroup, Microsoft Mediaroom and Tandberg Television.
It currently serves over 900 cable, satellite, telecom service providers and broadcasters around the world, with end-to-end video delivery solutions including video compression solutions for contribution and direct-to-consumer video service distribution, advertising and content personalisation solutions, high efficiency cloud DVR, and TV and video delivery platforms.
Analysis: Time to thrive?
Commenting on the rebrand, media and telecoms analyst Paolo Pescatore said: ”Finally, the unit can get on it with business.
”This represents a new start and it must deliver. No more second chances. Arguably, the unit should be well placed to exploit the opportunities in convergence underpinned by the growing demand of video usage.
”The equity firm can ensure a commercially minded focus, while it can still rely on Ericsson’s vast technical expertise and huge connections to thrive.
“There will be obstacles that it still needs to overcome. In particular regaining trust among existing and new customers. The new brand and future plans will go someway to restore confidence and rebuild credibility with the burgeoning media and telco industries.”