ATEME , a French provider of MPEG-4 and H.264 video compression solutions, raised US$8 million in new funding.
ATEME just closed a $8 million increase. This increase is an investment shared between new shareholder A Plus Finance, existing shareholders and the management of the company.
ATEME develops MPEG-4 and 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 HD 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 delinearization of video content, 3-D and more are about to further revolutionize the media industry as a whole.
"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-percent growth in 2009. We now contemplate even faster growth in the first half of 2010," said 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".
"Because of its technological lead and an ambitious development plan, we are convinced ATEME video compression solutions will quickly become the must have in this sector," said Jean-Michel Pimont, Partner at A Plus Finance.