Broadpeak intends to invest in SaaS and international expansion as it launches IPO – Digital TV Europe

Streaming technology company Broadpeak has launched an IPO on Paris’ Euronext stock exchange, aiming to raise around €20 million to fund investments in innovation and research and development.

Jacques Le Mancq

Broadpeak is selling 2,971,768 new shares with an option to roll over 3,417,533 shares or 3,930,132 shares in the case of founders Jacques Le Mancq, Pierre Jean Guery and Ronan Riou selling an additional 512,629 existing shares at a target price range of 6, €31 and €6.31 €7.05 per share.

Broadpeak, which expects sales of around EUR 41 million this year, has set itself the ambitious goal of increasing this to EUR 100 million by 2026.

The company stated in its prospectus that it intends to use 60% of the funds raised by the IPO to fund investments in innovation, R&D and the development of its software-as-a-service platform, with innovation and R&D split evenly on the one hand – with the aim of strengthening its position in telco TV and accelerating the penetration of the OTT and streaming world – and on the other hand the development of the SaaS platform.

New media applications will be added to the SaaS offering with the goal of having a “total offering” available in the next year.

The remaining 40% of funds raised will be used to support the company’s growth by building its sales and operations teams in France and internationally, targeting international markets such as North America, Latin America, Asia, the Nordics and the UK.

Broadpeak also intends to increase its marketing efforts around its SaaS platform and its multicast ABR technology.

Broadpeak’s existing customer base includes Bouygues Telecom, Orange, Telecom Italia, Deutsche Telekom, HBO, Mola TV, StarHub TV+ and Megacable.

CEO Jacques Le Mancq said the company is now “ready for a scale shift” and expects its IPO will “drive our technological advances and expand our commercial penetration, particularly in relation to our SaaS platform.”