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November 12, 2013
LONDON, 12 November, 2013 — Rightster Group plc., a global provider of cloud-based services that optimise the distribution and monetisation of live and on-demand video, today announced the admission of its shares to the AIM market of the London Stock Exchange. Covington & Burling advised Rightster on the transaction.
Rightster has raised £20.4 million before expenses through an initial public offering of ordinary shares, which puts a market capitalisation on the company of approximately £69.8 million.
The company, founded in 2011, provides one consolidated platform for content owners and publishers to distribute their content, meaning its clients are able to avoid having to build and manage an in-house online video solution. The platform allows 360° distribution of content to all types of sites, flexible monetisation with a range of revenue models and centralised reporting. The Group employs approximately 200 staff in 11 offices across 9 countries.
The Covington team was led by partner Paul Claydon and included partner Natalie Walter, special counsel Matthew Edwards, associates Simon Williams, Sarah Hoult, Elizabeth Stary and Aysha Qureshi. Of counsel Guy Dingley provided tax advice.