Envivio has filed for an initial public offering (IPO) through which it hopes to raise up to about $69 million.
The company is a video encoding specialist that has branched out into video distribution platforms that have been gaining success in the developing three-screen/TV Everywhere business.
In September, the company said it had modified its 4Caster system to work in content delivery networks (CDNs), and it recently launched a media processing platform for delivering video to the full range of end devices, what the company referred to as a “video headend.”
Though Envivio did not specify the number of shares to be offered and the price range for the offering on its registration statement with the Securities and Exchange Commission, analysts have pegged the likely maximum value of the IPO at about $69 million.
The company said it would use the proceeds to increase sales and distribution and raised the possibility of acquiring other companies.
