5/6/2004 - ANT Limited has gained the backing of a group of 11 prominent technology investors, with the conclusion of a GBP 3.39m (USD 6m) 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 Limited. “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.”
About ANT Limited
ANT Limited (www.antlimited.com) is a leading provider of browsers and content-rendering solutions for TVs, set-top boxes, multimedia handhelds and other consumer electronic devices. ANT's solution includes a browser, media viewer and manager, software architecture, and user interface toolkit that enable OEMs, service providers and network operators to provide highly compelling interactive content and services to consumers. ANT's software can be integrated quickly into any platform and operating system, and has been implemented into a wide range of interactive TV and digital entertainment devices around the world. Current customers include Thomson multimedia, Pace Micro Technology, Philips Semiconductors, HUMAX and Sagem.
ANT, the ANT logo, Fresco, PurePlay and SimplEmail are all trademarks or registered trademarks of ANT Limited.
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