European mid-market private equity firm Palamon Capital Partners has sold its interest in D.A.V.I.D., a German-based provider of software solutions to the broadcasting industry, to Munich-
European mid-market private equity firm Palamon Capital Partners has sold its interest in D.A.V.I.D., a German-based provider of software solutions to the broadcasting industry, to Munich-based Silex Media, a subsidiary of SGI Japan, for an undisclosed amount.
Palamon invested in D.A.V.I.D. and its parent company, OmniBus Systems, in 2001. Since then it has supported a growth programme that has seen D.A.V.I.D. and OmniBus significantly broaden their product range and market reach and increase market share in the US broadcasting market, the largest in the world. Palamon will remain the majority investor in OmniBus.
According to Palamon, Silex Media is perfectly placed to support D.A.V.I.D. through its next phase of development, which will involve the international distribution of the newly developed DAVID Moves Media solution suite aiming at national and international TV and radio broadcasters.
‘Palamon is a well established growth investor in both the media and IT sectors throughout Europe, and the successful exit from D.A.V.I.D. underlines our capabilities in these areas,’ says partner Holger Kleingarn.
‘Over the course of our investment we have successfully supported D.A.V.I.D. in what is a rapidly changing marketplace. The highly experienced management team we have established will undoubtedly continue driving the growth of the company for its new owners.’
Says D.A.V.I.D. chief executive Gerhard Moeller: ‘Our relationship with Palamon has been based on mutual trust and respect, and with their support we have been able to grow and broaden our business, including the new television application field as well as entering the US market.
‘We welcome our new strategic shareholders, with whom we share many synergies, and look forward to further extending our product range and services in Europe, the US and new geographic areas.’
