Atende Software ownership change

Change in the ownership structure of Atende Software, the largest provider of video streaming technology and manager services in Poland.

On December 29, 2020, the parties signed an agreement for the sale of 100% of shares in Atende Software, a subsidiary of Atende S.A.. The acquiror is a company affiliated with Custodia Capital, an investment company supporting small and medium-sized entities in Central and Eastern Europe through private equity capital. The transaction value amounts to PLN 52.5 million.

The Atende Software was established in 2007 and, from the beginning, was  focused on the development and commercialization of its redGalaxy platform, a basis for OTT technology. Starting from 2015, the company has been developing and implementing its redGuardian platform, the first operator-class system of protection against DDoS attacks in Poland.

Since 2011, Atende Software has also worked on the development of systems for the energy sector, specifically in the area of Smart Grid software. On November 30, 2020, this segment was carve out from Atende Software and moved to a newly formed company – Atende Industries, which is currently solely owned by Atende S.A.

– The multimedia division of Atende Software was and still is the largest provider of Internet TV services in the country, with ambitions for further expansion into foreign markets. Further development requires full concentration on this goal. I hope that the new owners of Atende Software, including Przemysław Frasunek, board member, innovator and one of the main creators of the company’s technological foundations, will achieve this goal. On the other hand, Atende S.A.’s will focus on the development of Atende Industries, specifically in the area of energy sector software solutions. The process of changes in the energy sector in the field of renewable energy sources and smart grids is the greatest challenge in our country for the coming decades, also for the IT industry. By focusing on the issues of new generation energy, we will be able to fully engage in this process. I believe that separation ensures that each segment the former Atende Software remains on a path to success. – comments Dr. Roman Szwed, CEO of Atende S.A.

– I am proud that, as part of the Atende group, we have created a company, which has become the leader of OTT and streaming technology in Poland, all within ten years. We have several years of intensive work ahead of us – to ensure that the products are recognizable not only in the domestic market, but also globally. – comments Przemysław Frasunek, investor and member of the management board of Atende Software.

– A world-class team of engineers led by the current management board has created the undisputed leader in Internet television technology in Poland. We will support Atende Software in the further development of innovative multimedia solutions for the company’s existing clients, as well as in rapid expansion – both in terms of products and geography. We would like to thank the company’s management board and the seller – Atende S.A. for the entrusting us with the next phase of growth and development of Atende Software . I would also like to highlight that the entire transaction was carried out during the pandemic, and therefore mostly remotely, which aptly underscores the inevitable and on-going migration of communication and multimedia to the Internet – comments Tomasz Potapczuk, director of Custodia Capital and vice-chairman of the supervisory board of Atende Software following the ownership change.

Atende Software’s strategy for the coming years includes rapid foreign expansion, based on the OTT product dedicated to smaller customers from the B2B sector and the development of new products offered in the PaaS model for corporate customers.

Atende Software

Atende Software is the leading OTT technology provider in CEE. redGalaxy is a one-stop-shop for a hassle-free internet television. It consists of proprietary service delivery platform, content delivery network, transcoders, content security systems, as well as client applications for various end devices. redGalaxy is employed by major broadcasters and mobile operators, including TVN Discovery Poland and P4 (PLAY operator network) and TV3 Group. Every day, the platform delivers content to millions of end-users.

Custodia Capital

Custodia Capital is an investment company focusing on private equity investments in the Polish SME sector. Custodia Capital invests in “little leaders” with a yet unrealized potential for rapid growth and expansion in their respective segments.

Atende

Atende S.A. is one of the leading IT companies in Poland, since 2012 listed on the Warsaw Stock Exchange. The company has 30 years of experience in implementing technologically advanced IT projects. It specializes in providing services in the field of IT infrastructure, network integration, IT outsourcing, cloud computing, cybersecurity and solutions based on blockchain technology.

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