Witbe lists on Alternext Paris to step up its international expansion
EnterNext, the Euronext subsidiary dedicated to promoting and growing the market for small and medium-sized companies (SMEs), on April 18, 2016, announced the first day of trading on Alternext Paris of Witbe, a technology company that analyses the quality of experience (QoE) delivered to end-users by digital service providers.
Founded in 2000, Witbe develops and markets technologies that allow major telecoms operators, global broadcasters and other large companies to measure the quality of the digital services they deliver to their customers. Witbe’s robots form the core of its technologies, reproducing typical actions and human behaviors—watching videos on demand on a tablet, connecting to an online bank account, making an online purchase via smartphone, etc. –in order to detect service dysfunctions in real time, alert the supplier, and improve the quality ultimately delivered to the end-user. The company has four subsidiaries outside France, in New York, Montreal, Hong Kong and Singapore, and plans to accelerate its growth. Witbe robots and related technologies are currently used by over 300 customers in 45 countries around the world.
Witbe (ticker symbol: ALWIT) was listed through the admission to trading on April 18, 2016, of 3,827,853 common shares making up its equity, including 1,594,115 issued as part of a public offering, after exercise of the extension clause and the over-allotment option.
The admission price and issue price of Witbe shares was set at €9.68. Market capitalization on the day of listing was €37.1 million, and the operation raised a total of €15.4 million.
Marie-Véronique Lacaze, President and CEO of Witbe, said “We are delighted with the number of investors who have supported our project. I would like to extend warm thanks to all of the new institutional and individual shareholders who have joined us—for the long term, I hope—as we continue to forge ahead. I would also like to thank the entire team that took part in this project, as well as our own employees who, through their committed daily work, have made our listing such a success. We will be using the funds raised to accelerate the roll-out of our offering, consolidate our technological edge, and raise our profile.”