Private equity-backed NDS, a developer of pay-TV technology, has invested in US-based BlackArrow in a $20 million (£13 million) round.
Private equity-backed NDS, a developer of pay-TV technology, has invested in US-based BlackArrow.
NDS, which is co-owned by funds managed by Permira and News Corporation, joined a Series C round for BlackArrow which raised $20 million (£13 million) in total. Existing investors also participated in the fundraising, namely Cisco Systems, Comcast Interactive Capital, Intel Capital, Mayfield Fund and Polaris Venture Partners.
The funding will accelerate the deployment of BlackArrow’s advertising system, which helps pay-TV operators to generate revenues from digital content.
As part of the deal, a representative of NDS will join BlackArrow’s board, and the two companies will work together on developing new services.
Abe Peled, CEO and chairman of NDS Group, says, ‘The ability to deliver timely, addressable advertising to on-demand audiences presents a major revenue-growth opportunity for operators and programmers worldwide.’
NDS supplies technologies that enable pay-TV operators to deliver content securely to set-top boxes. Three-quarters of the company’s staff are dedicated to research and development.