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Ateme, a specialist in video compression solutions, has raised €13.3 million in an IPO on the Euronext Paris market. Ateme said the offering was oversubscribed at a rate of nearly 2.5 times the number of shares offered. Following the IPO, the company has a market capitalisation of €44.7 million.
Meanwhile, Ateme has delivered 700 Kyrion units to date to the European Broadcasting Union (EBU).
EBU’s global video network, the sports content delivery platform to broadcasters, has been and will be carrying all the World Cup matches in HD format, as well as all of the 4K television production of the 2014 tournament in Brazil.
Michel Artières, CEO, Ateme, said: “We are excited to be the chosen video compression supplier of the EBU for its HD television coverage of the 2014 World Cup. It is a pleasure to be a partner of such an important organisation in the global delivery of sports and news broadcasting.”