World leading video-on-demand company receives significant investment
A leading provider of video-on-demand (VoD) services, BIBC Limited has raised a further £250,000 of investment from private investors. BIBC was advised on the transaction by Hart Shaw Corporate Finance and solicitors Keeble Hawson LLP also advised on the investment.
BIBC was established in 2004 to exploit Intellectual Property relating to the delivery of video content, initially to set top boxes. Early stage development was financed with Viking Fund through its Ridings Early Growth Fund and South Yorkshire Investment Fund providing £450,000.
The Company will utilise the new investment to finalise commercial agreements with its global partners which includes content providers such as Universal Music, Turner Broadcasting and ITV.
Paul Hague, Managing Director of BIBC commented “This investment will allow the Company to push forward with services to major consumer electronics manufacturers, delivering premium brand VoD content to connected TV’s and set top boxes, helping BiBC be the first to launch Over The Top, on demand content, on a Pan European basis ”
Chris Sellars, Corporate Finance Partner at Hart Shaw commented, “We were introduced to Paul Hague, the Managing Director of BIBC, and were interested in the opportunity presented by the Company. Being at the forefront of the delivery of Video-on-Demand services and having established extensive relationships with both content providers and manufacturers of hardware made them a very attractive proposition to us. Through our contacts we were able to attract significant private investment to allow the Company to continue the roll out of the services.”
Paul Trudgill, Corporate Partner and Managing Partner at Keeble Hawson commented “Keeble Hawson was delighted to be involved in this transaction which involved a complete restructuring of the Company’s share capital and the balancing of the interests of a significant number of shareholders including the private investors, VC’s, management and individual minority shareholders. The speed with which this transaction took place demonstrated the strength of support for the business which is now poised to exploit its exciting opportunities both in the UK and world-wide.”
