Edgeware streaming TV technology provider goes public
TV CDN provider lists on the NASDAQ Stockholm exchange, joining other successful Stockholm-based IT companies
STOCKHOLM, Sweden – 19 December, 2016 – Edgeware AB, a pioneer in streaming TV over the internet, listed on the Swedish Stockholm NASDAQ exchange on December 9 2016.
Edgeware provides a TV CDN (Content Delivery Network) platform specifically designed to solve the challenges of Internet-delivered TV services. Between 2007 and 2015, the company’s net sales grew annually by an average of 41 percent and for the 12-month period ending September 30 2016, Edgeware’s net sales amounted to 232 million SEK.
Technology like Edgeware’s is critical due to changing TV consumption habits. Viewers today want to watch TV at any time and on any device, yet streaming TV services suffer from quality issues and strain conventional delivery systems. TV over IP networks requires a unique data stream to be delivered to each viewer, at the time and in the format the viewer needs, and with personalized ads inserted, putting a massive strain on the network. Edgeware’s technology solves this problem by keeping copies of popular programs in the network, near to the viewer, and playing them locally.
“Over the last few years TV, and the way we consume it, has started to change dramatically and the internet wasn’t built to solve the problems that come with that,” said Joachim Roos, chief executive officer at Edgeware. “The industry needed to find new ways to solve the problems, and that’s exactly what Edgeware was set up to do. And now we can build a hugely scalable distributed TV architecture that can deliver amazing TV experiences with minimal impact on the internet.”
The need for Edgeware’s technology has become even more important as adoption of streaming media and video on demand (VOD) services such as Netflix continues to grow. And the upcoming trend for 4K TV, with its higher resolution and increased picture quality, is creating an even greater need to play the programs out nearer to viewers.
Edgeware is based in Stockholm, the second most prolific tech hub in the world on a per capita basis, behind only Silicon Valley, and home to companies such as Skype, Spotify, Klarna, King and Mojang. According to a recent report from the investment firm Atomico, Stockholm has produced 6.3 billion-dollar companies per million people, compared to Silicon Valley’s 8.1.
“Scandinavian markets are an ideal testbed for new technologies like ours because the consumers tend to be early adopters of new technology,” explains Roos. “But TV streaming over the internet has become mainstream very quickly, with virtually every part of the world facing similar challenges in streaming TV over IP networks at high scale and high quality.”
About Edgeware
Edgeware provides operators and content owners with the tools to deliver their TV services at huge scale and low cost. Edgeware’s unique technology gives control and insight back to the content provider and delivers TV with an outstanding viewing experience. Edgeware is headquartered in Stockholm, Sweden, with offices worldwide.
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