One Equity Partners (OEP) said it has invested in Zodiac Interactive, a video software vendor that works with cable operators and other MVPDs.
OEP didn’t reveal the amount of the investment, but said Monday that it made it as Zodiac sees “substantial growth” for its cloud and embedded software with top MVPDs in North America and abroad. Zodiac, for example, supplies the software stack for Charter Communications’ new Worldbox, and also counts Cablevision Systems as a customer. Zodiac is also a licensee of the Reference Design Kit, the software platform for IP and QAM/IP hybrid devices being managed by Comcast, Liberty Global and Time Warner Cable.
OEP said it partnered with Derek Harrar, Comcast’s former SVP and GM of video and entertainment services, “to bring additional industry expertise relevant to Zodiac,” noting that Harrar has joined Zodiac’s board of directors.
“What struck us was the value proposition: with a software upgrade to any configuration of existing hardware and with minimal investment, Zodiac enables MVPDs to rapidly advance their customer experience across the entire footprint, from legacy to all-IP, to be competitive with Internet offerings,” said Andrew Dunn, a managing director of OEP. “As a result, MVPDs can mitigate churn and grow revenue, while improving capital efficiency and reducing operating expenses by implementing a unified video management platform. OEP is pleased to support Zodiac’s management team as it invests in the business to develop more new products and acquire additional customers.”
“Our focus has always been on keeping our heads down and providing innovative software, on time and on budget, that just plain works despite our customers’ incredibly complex service provider infrastructures and intense carrier-grade operational requirements,” added Brandon Brown, Zodiac’s CEO. “With OEP, we have found a partner to support our growth while staying true to our customers and the values that have driven all our success to date.”