Report says Francisco Partners to buy SintecMedia for $400 mln: Reuters

(Reuters) Private equity firm Francisco Partners will buy Israel’s SintecMedia for $400 million, the Calcalist financial daily reported on Tuesday, without citing sources.

The deal is expected to be signed in the coming days, it added.

SintecMedia, which makes Internet-based management software systems for broadcasters and whose clients include NBC, ABC and BBC, declined to comment.

The company was founded in 2000 and is backed by private equity firm Riverwood Capital.

Citing industry estimates, Calcalist said SintecMedia has annual revenue of $100 million to $120 million and a profit margin of as much as 40 percent.

San Francisco-based Francisco Partners, which is focused on technology, has bought a number of Israeli tech firms, including ClickSoftware for $438 million and homeland security firm NSO for more than $100 million.

(Reporting by Steven Scheer; Editing by Tova Cohen)