Product category:
Embedded Software and Operating Systems
News Release from: ANT
Edited by the Electronicstalk Editorial
Team on 07 May 2004
ANT finds further funds
ANT has gained the backing of a group of 11 prominent technology investors, with the conclusion of a GBP 3.39 million funding round aimed at accelerating the company's commercial development.
ANT has gained the backing of a group of 11 prominent technology investors, with the conclusion of a GBP 3.39 million (US $6 million) funding round aimed at accelerating the company's commercial development "Over the last three years since we last went to the venture market, ANT has become profitable and cash-generating", said Simon Woodward, President and CEO of ANT
This article was originally published on Electronicstalk on 10 Aug 2001 at 8.00am (UK)
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"Having built a robust base for the business in a difficult economic climate, we now feel the time is right to invest in growing more aggressively".
"This additional funding will help us to capitalise on what we see as a sweet-spot in the market, and to target new opportunities for growth".
ANT's software has been extensively deployed in consumer products around the world and the company has become a dominant player in the broadband TV market.
Further success came earlier this year, when the Fresco Lite browser was integrated in a new generation of set-top boxes for use by Germany's largest cable TV company.
The latest round of funding will allow the company to exploit the diversity of its products and technology, expanding in the home TV entertainment and consumer electronics markets, including the broadband, satellite, terrestrial and cable TV markets.
Led by technology investor Richard Farleigh, the syndicate of investors includes VCs Pall Mall and Top Technology and a group of experienced private investors.
"ANT is a successful business with potential to do much more", said Farleigh.
"The key elements are in place: the company has a diverse range of technologies for which there is a demonstrable need in the market; but just as importantly, ANT has the management and the people who are capable of making the venture a success".
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