LONDON ATEME, a developer of video compression technology for FPGA, DSP and PC, has closed a 4 million Euro round of financing with XAnge Private Equity and Ventech.
The proceeds will be used to maintain and enhance the company's video compression technology and will also support its international expansion.
ATEME’s export activities reached 45% of its total turnover for the fiscal year 2005 and its has subsidiaries in Montreal (Canada) and Tokyo (Japan), as well as a distribution network covering Europe, North America and Asia.
According to Michel Artières, CEO of ATEME the next subsidiary will shortly open in Silicon Valley and the ratio of export sales should reach 60% of the company’s total turnover in 2006.
Founded in 1991 and headquartered in France, ATEME's portfolio includes a range of video compression IPs: MPEG-4 AVC/H.264, MPEG-4, WM9 / VC1, development platforms, production-ready designs.
Hervé Schricke, President of XAnge Private Equity, said, “This already well-established company owns a unique expertise and perfectly fits with our investment strategy, consisting in the support of leading and expanding technological companies.”
XAnge Private Equity manages 8 third-party FCPI (retail funded) funds, with a total subscribed amount exceeding 120 million Euro, that invest in technology and innovation led companies with a multi sector logic.
Ventech is a French venture capital firm managing 174 million Euro and investing in early stage high tech companies and focuses on promising ventures in the area of IT & Communications and Biotechnologies in France and Continental Europe.