Sale of shares in Atende Software

30.12.2020

On December 29th, 2020 a share purchase agreement for 100% of shares in Atende Software, a company belonging to the Atende S.A. capital group, has been concluded. The buyer is a company related to Custodia Capital, an investment company supporting small and medium enterprises in Central and Eastern Europe.  The transaction value amounted to PLN 52.5 million.

Atende Software was established in 2007 and focused on the development and commercialization of a proprietary redGalaxy technological platform, being the foundation for Internet TV channels. Since 2015 the Company developed the redGuardian platform, the first operator-class DDoS protection system in Poland.

Since 2011 Atende Software also developed Smart Grid systems. On November 30th 2020 the business has been spun-off as an organized part of the enterprise to create Atende Industries, 100% owned by Atende S.A.

“The multimedia business of Atende Software was and is the largest provider of Internet TV in Poland, with ambitions to grow further, also on international markets. Further growth requires focusing all resources on the goal. I hope that new owners of Atende Software, including Przemysław Frasunek, Member of the Management Board, innovator and one of the key creators of technological foundations of the Company, will achieve that goal. Atende will focus on developing Atende Industries, operating primarily in the energy sector. Changes to the energy sector triggered by renewable energy sources and smart grids is the challenge in our country for the next decades, also for the IT industry. By fully focusing on new generation energy sector issues, we will be able to thoroughly participate in the process. I believe that each segment of the former Atende Software’s business has entered and adequate path towards success,” dr Roman Szwed, Atende S.A. President of the Management Board said.

“I am proud that, being part of the Atende group, we have created a Company that within ten years has become a leader of the OTT and streaming technology in Poland. We are facing several years of hard work to make our products recognisable not only on the local market, but also globally,” Przemysław Frasunek, investor and Atende Software Member of the Management Board commented.

“The world-class team of engineers led by the current Management Board created an unquestioned leader of Internet TV technology in Poland. We will continue to support Atende Software in further development of innovative multimedia solutions for current customers of the Company as well as in its expansion, both in terms of products and territories. We are very grateful for your confidence in the Management Board and the seller — Atende. Furthermore, I want to mention that the entire transaction has been closed in times of a pandemic, hence mostly remotely. This clearly demonstrates the inevitable and progressing migration of communication and multimedia to the Internet,” said Tomasz Potapczuk, Director of Custodia Capital and Deputy Chairman of Atende Software Supervisory Board following the ownership change.

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