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Streamcast listens out for 2019 London IPO: Bloomberg
Posted on Thursday, 08 November 2018 10:44
Streamcast, an Indian provider of cloud-based software-as-a-service (SaaS) streaming technology to internet infrastructure owners, is in early stage discussions to list internationally, sources close to the matter told Bloomberg.
According to the people, who declined to be named as the matter is still private, London is currently the destination in mind, though the New Delhi-registered company is not ruling out other bourses.
Representatives for the provider declined to comment when contacted by Bloomberg, as did HSBC Holdings and JPMorgan, which are flagged as potential advisors for the first-time share sale that could come as early as next year.
Streamcast has developed technology allowing those telecommunications providers with sub-optimal network infrastructure to deliver high quality video and audio content at ultra-low bandwidth.
In effect, it has provided a new lease of life to old-school copper systems such as wired coaxial cable and asymmetric digital subscriber line telephone grids in the developing countries.
The company is focused on three main business segments: core SaaS technology; data centre construction, operation and maintenance; and content licencing, acquisition and production.
Just last month Streamcast partnered with Bharat Sanchar Nigam on a triple-play digital service, which will be delivered via the state-owned telecommunications’ network to every part of Maharashtra.
The agreement comes on the heels of the company’s Streamcloud division launching a high compute data centre in the region with an investment of over INR 22.00 billion+ (USD 303.85 million) over the next four to five years.
According the provider’s website, it has offices in the US, UK, Ireland, Malta, Kenya, Dubai, Bahrain and India, and maintains 104,000 services, has over 50.00 million subscribers and serves 25.00 terabytes of data every day.
News of the potential listing in London comes at the same time as Bloomberg noted Middle Eastern payment processor Network International is gearing up to gain admission to the boards of the venue.
Sources told the news provider the private equity owners have already hired advisors for the debut, which could value the entire company at about USD 3.00 billion.
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