Ateme lands $8m in new funding
Just noticed French compression firm Ateme announced they’ve received an $8 million capital boost:
June 18, 2010 - ATEME (www.ateme.com) has just closed a 6.5 million euro Capital Increase. This increase is an investment shared between A Plus Finance (new shareholder), existing shareholders and the management of the company.
ATEME develops MPEG-4 / H.264 video compression solutions and provides broadcasters, operators and content owners with unmatched compression quality and bandwidth efficiency.
Over the past decade the migration to High Definition and the analog switch-off have fueled the growth of the video compression market. In the coming years new expectations and uses including IP convergence, mobile phones and iPads, the de-linearization of video content, 3D and more are about to further revolutionize the media industry as a whole.
I’ve seen these guys a bit in security, but they seem to be pointedly avoiding the word “security” or “surveillance” in this release. Looks like they’ve made the decision to just focus on video transmission, however it’s being done, and not worry too much about what the application associated is.
Whatever the plan, it’s working, according to management:
“Despite difficult market conditions in 2009, especially in our sector, ATEME was able to sustain its strategy of investment in innovation. This led us to outperform the market and achieve a healthy 30% growth in 2009. We now contemplate even faster growth in the first half of 2010“, states Fabrice Sana, ATEME CFO. “This Capital Increase will enable us to maintain our technology advantage, while strengthening our financials to support our prestigious customers with ever more ambitious challenges”.
Hey, if you could grow 30 percent in 2009, good for you. Even if you do make “Capital Increase” a proper noun…