Broadpeak looks to invest in SaaS, international expansion as it launches IPO

Streaming technology outfit Broadpeak has launched an IPO on the Euronext Paris exchange, with the objective of raising around €20 million to finance investment in innovation and R&D.

Jacques Le Mancq

Broadpeak is selling 2,971,768 new shares, with an option of extending up 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 an indicative price range between €6.31 and €7.05 per share.

Broadpeak, which anticipates revenues of around €41 million this year, has set an ambitious goal of increasing this to €100 million by 2026.

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

The SaaS offering will be extended to encompass new media applications with the aim of having a ‘complete offering’ available next year.

The remaining 40% of the funds raised will be used to help the company grow, by developing its sales and operations teams in France and internationally, and by targeting international markets including North America, Latin America, Asia, the Nordic countries and the UK.

Broadpeak also aims to up 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 that the company was now “ready for a change of scale” and expected its flotation to fuel “our technological progress and extend our commercial penetration, notably with regards to our SaaS platform”.