Firm upbeat after investment boost
vrijdag, 12 maart 2010
Sheffield-based digital media solutions firm BIBC has outlined a series of growth plans after announcing it has raised £250,000 from private investors.
The company is already a leading provider of video-on-demand services (VoD) with a catalogue of premium content more extensive than that of Google and Apple.
It is planning to use the new investment to seal partnerships with a range of global media firms including ITV, Universal Music and Turner Broadcasting.
Managing director Paul Hague said: "This investment will allow the company to push forward with services to major consumer electronics manufacturers, delivering premium brand VoD content to connected TV's and set top boxes, helping BIBC be the first to launch 'Over The Top' (direct to TV) on demand content, on a pan European basis."
BIBC was established in 2004 to devise ways to deliver video content, with £450,000 from the Viking Fund and South Yorkshire Investment Fund for its initial development.
It secured the help of Hart Shaw Corporate Finance and solicitors Keeble Hawson on the latest investment.
Hart Shaw corporate finance partner Chris Sellars said: "Being at the forefront of the delivery of Video-on-Demand services and having established extensive relationships with both content providers and manufacturers of hardware made them a very attractive proposition to us."
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