Peer TV 'set for £15m AIM flotation'
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ThE MaStEr
2010-10-16
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Peer TV 'set for £15m AIM flotation'
The popularity of multi-channel television packages targeting foreigners living abroad has prompted the flotation of internet TV set-top box maker Peer TV.
By Amanda Andrews,
Peer TV is next week expected to float on AIM with a valuation of about £15m in what will be an open offer, sources told The Daily Telegraph.
The company, which will see former Pace chief executive Malcolm Miller sit on the board as a non-executive director, provides its set-top box technology to a number of international content aggregators.
Peer TV’s set-top box connects to the internet to stream content directly to a home television set.
One Peer TV customer is Watch India, which provides of a range of online Indian television channels using Peer TV’s set-top box.
A Watch India subscriber would receive 56 linear channels and access to thousands of Bollywood films.
The service also makes websites, such as Facebook and YouTube, available via television sets.
The group currently has deals with Russian, Indian, Persian, Serbian and Spanish content aggregators and its technology is in around 100,000 homes globally. The majority of its customers are Russian, who pay about €20 a month to use its service.
However, Peer hopes that the float will enable the group to increase production. The company is also keen to target the local television market.
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