Business Weekly - Cambridge, UK

ANT supplies its technology to all of the major set top box providers such as Amino, Pace, Sagem, Samsung and Thomson and is used in most commercial IPTV deployments including roll outs by France Telecom, SaskTel (Canada), Chunghwa Telecom (Taiwan) and Softbank (Japan).

The listing and placing proceeds will enable ANT to exploit significant growth opportunities presented by the market.

KBC Peel Hunt Ltd raised approximately £11.2 million through a placing of 8,880,158 shares at 126 pence per share, giving ANT a market cap of around £30.6m.

KBC Peel Hunt Ltd has also placed 3.7m existing ordinary zhares at 126p per share on behalf of existing shareholders.

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.

The company believes that ANT’s browsers have been shipped in more IPTV STBs than any other TV browser and that most significant commercial IPTV deployments in the world to date utilise ANT’s browser technology – in many cases to the exclusion of any other browser.

Independent research indicates that the IPTV market will grow significantly over the next few years with the number of units shipped globally forecast to increase from two million in 2004 to 26m in 2008.

Group revenues increased by 29.0 per cent. to £2.22 million in the year to December 31 from £1.72 million. Since January 1, ANT has continued to trade in line with expectations.

The directors are already aware of a number of IPTV network roll-outs in 2005 where the STB manufacturer will be using ANT’s next generation browser, Galio.

The long-term strategy is to extend ANT’s software provision across a broader range of TV and media products.

CEO Simon Woodward said: “ANT’s leading position in the IPTV value chain makes it well placed to take advantage of the significant growth in this exciting market.

“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.”

Launched in December 2004 and currently in testing, the directors believe that Galio is the most advanced browser to date, delivering next generation user interface applications, including dynamic, animated and blended information overlays suitable for a range of TV programmes and interactive services.

Galio is suitable for use on both current and future STBs, personal video recorders and TV products and was developed to take advantage of the latest W3C Internet standards with increased power and capabilities enabling the move to fully dynamic content.

Since launch, Galio has been licensed to eleven STB manufacturers.

The ANT board comprises Tony Caplin, non-executive chairman, Simon Woodward, CEO, Paul Dodd, chief financial officer, Stephen Reeder, executive director, sales & marketing and David Kynaston, non-executive director. The aim is to appoint one further independent non-executive director within the next 12 months.