Alticast IPO to expand in Americas

Alticast, a South Korean maker of software that connects televisions to the Internet, is planning an initial public offering in the first half of next year to help fund its expansion in the Americas.

Alticast, based in Seoul, would be listed either on the Korean Stock Exchange or Nasdaq Stock Market, Alticast Americas Chief Executive Officer David Housman confirmed in an interview. The size of the IPO and where the shares will be listed hasn't been determined, he said. PineBridge Investments, which recently was purchased by Pacific Century Group, is an adviser.

Alticast built its business on technology that makes cable set-top boxes, video players, TVs and cable systems compatible with each other and Internet connections. The company is developing an application that allows customers to use the Twitter messaging service on their TVs and has signed Time Warner Cable. and Cablevision Systems as clients.

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