French digital audio software specialist Netia SA is planning an initial public offering of 40% of its shares on the Nouveau Marche in Paris at the end of this month, it announced yesterday. The Montpellier-based group develops software for the acquisition and broadcasting of sound data in radio stations (Radio-Assist), as well as for mixing several languages on the same video image in TV stations (Video-Assist). The company generated revenue of $3.7m last year, a 118% increase on 1997, with a net income of just under $1.0m. Netia plans to use the funds to finance R&D activities, which currently absorb about 20% of revenues. Its main focus in these efforts is to develop internet-based applications in its sector. It also wants to gain public exposure and increase awareness of the Netia name overseas, particularly in the US.
