ANT, which provides user interface software for the emerging internet protocol television sector, is hoping to strengthen its position through a listing on the Alternative Investment Market in London.
The company has raised approximately £11.2 million through an initial public offering and in its first week traded considerably above the 126 pence per share at which it was placed. The proceeds will be used to strengthen ANT’s position as a provider of user interface browsers for IPTV.
“ANT’s leading position in the IPTV value chain makes it well placed to take advantage of the significant growth in this exciting market,” said chief executive Simon Woodward. “Admission to AIM is an important step in ANT’s strategic development. The injection of further equity gives the Group the balance sheet strength and flexibility necessary for further growth.”
ANT produces a range of software products which are primarily aimed at the IPTV market. It has developed two TV browser products, Fresco and Galio, and a digital media manager, PurePlay.
Customers include set-top box providers such as Amino, Pace, Sagem, Samsung and Thomson. ANT’s browser software is employed in almost half a million IPTV set top box deployments worldwide. Deployments to date include France Telecom, SaskTel in Canada, Chunghwa Telecom in Taiwan and Softbank in Japan.
ANT joins Amino, also based in Cambridge, England, as one of the UK’s new technology stocks hoping to exploit the global market for IPTV.