Management invests EUR 400,000
Hasselt, 30 November 2010. At a time of grave economic crisis, management at Zappware decided to turn its focus towards internationalisation. It proved a successful approach - after many years of development, the supplier of interactive digital TV services (iDTV) can report strong operating profit. Meanwhile, 1.5 million decoders in more than 10 countries are using Zappware technology. Management is investing an additional EUR 400,000 into the company.
From passive viewer to active consumer
Zappware provides complete solutions for interactive digital television or iDTV. With products ranging from custom made user interfaces to various 'off-the-shelf’ applications, such as electronic programme guides, video-on-demand, a personal video recording service and a media player service, the company offers applications for enhanced user-friendliness in digital television, turning passive viewers into active consumers. As many as 1.5 million decoders in more than 10 countries are already using Zappware technology.
Growth in a time of crisis
Zappware was established in 2001 as a supplier of Telenet. The company’s initial years were characterised by extensive development during which, given the fact that Flanders is one of the frontrunners in the field of digital television, attention logically focused on the Flemish market. Zappware thus earned credit as a pioneer in the digital television era. Turning that pioneering role to good use, the company decided to export its specialised knowledge in the field of digital television. Despite the economic crisis and decreasing revenue from the local market, this change of strategy opened the door towards Zappware’s accelerated growth. Taking advantage of the breakthrough of digital television abroad, Zappware is now offering its services in a wide range of countries, including the Netherlands, Germany, Switzerland, Portugal, Macedonia, Slovenia, Croatia and Poland. Germany’s second largest cable operator Unitymedia serves as an impressive reference in this respect. Zappware’s financial results also reflect the success of its international expansion: the company is back in profit and will end the fiscal year with net earnings of EUR 565,000.
Additional resources for export strategy
LRM became a shareholder of Zappware at the end of 2006. Together with the other shareholders, LRM enabled the digital media specialist’s change of strategy. The growth generated by the company’s export operations requires additional resources. These are provided by Zappware’s management. Patrick Vos, Koen Swings and Ives Decraene put in a combined capital increase of EUR 400,000. Zappware CEO Patrick Vos explains: “This capital increase underlines our belief that Zappware has the potential to become the top player in the European market in the area of interactive digital television. It is a clear vote of confidence towards all stakeholders involved.”
Zappware currently realises a EUR 2.9 million turnover and employs 25 staff.
About Zappware
Zappware NV, with its statutory seat in Belgium, is a designer and developer of integrated interactive television applications (iTV) for a varied target group, including TV broadcasters, content suppliers, advertisers and anyone interested in interacting with digital viewers.
Combining creativity with the latest technology and engineering, Zappware provides easy, reliable solutions that allow for integration into a content management system. Zappware is a one-stop-shop for both readymade and tailored solutions for electronic programme guides (EPG), video-on-demand, personal video recording (PVR) and all kinds of "red button" applications.
Zappware now operates in more than 10 countries. More than 1.5 million decoders around the world currently use Zappware technology.
Visit www.zappware.com for more information.
About LRM
LRM is a profit-driven investor that offers entrepreneurs a unique combination of venture capital and real estate. LRM's activities contribute to the economic development and the general employment in Belgian Limburg. LRM is oriented towards all sectors and companies, from start-ups over growing SMEs to large enterprises. Today, LRM is active in five domains: ICT & Media, Life Sciences, Cleantech & Energy, SMEs & Large enterprises.
www.lrm.be
For further information, please contact
Zappware
Patrick Vos
CEO
T +32 11 712 330
E patrick.vos@zappware.com
LRM
Jeffrey Alenus
Commercial Director
T +32 11 24 68 19
M +32 475 93 03 61
E j.alenus@lrm.be