Iliad’s Play takes control of Redge Technologies
Polish service provider Play Group, owned by the Iliad Group, has acquired 92.5% of the shares of Polish technology provider Redge Technologies. The remaining 7.5% of the company’s share capital remains in the hands of Przemysław Frasunek, CEO and co-founder.
Redge Technologies is a leading provider of OTT and edge computing technologies in Central Europe. Its flagship technology, Redge Media, is an OTT platform available in PaaS and On-Prem models.
Redge counts Play, as well as Warner Bros. Discovery Group’s TVN, TV3 Baltics Group, Telewizja Polska, Ringier Axel Springer Polska, Vectra, Canal+ and NASK among its customers.
Redge Technologies was founded in 2007 within the Atende SA group. In 2020, the company became an independent entity following a management buyout, assisted by Custodia Capital led by Wojciech Domański and Tomasz Potapczuk. In 2021, Redge Technologies achieved a turnover of more than 7.5 million euros.
Following Play’s acquisition, the management team will remain intact, Redge said. The company will continue to operate as a separate entity and pursue its product, sales and marketing strategies, both domestically and internationally.
At the same time, Redge said it will expand its cooperation with the Play Group to include, among other things, the development of the PlayNOW platform.
The Play Group was advised by Rymarz Zdort and Grant Thornton. The sellers were advised by Rothschild & Co with legal advice provided by Dentons Poland.
“Joining the Play Group opens a new chapter in the company’s history and fits into our telecommunications DNA. For 15 years, we have been supporting telecom operators and broadcasters in their OTT services. The technology we developed has become the basis for several major deployments in the region. The cooperation with Play will – above all – produce synergies in telecommunications and a great chance to further develop our CDN, but also other edge computing-based services. We want to continue setting industry trends and standards,” Frasunek said.
“The Play Group has acquired the most valuable video technology asset in Central Europe. Following the split of the Atende group, Redge has undergone a profound transformation: the company has focused on its unique and most valuable video streaming technology, strengthened its operational resources and accelerated its investments in its technological assets. As Custodia Capital, we are pleased to have been able to support Redge’s management team – Przemek, Jan and Tomek – in such dynamic growth, and that the company is now part of the global capital group. , which is uniquely positioned to accelerate Redge’s growth,” said Tomasz Potapczuk, co-founder of Custodia Capital and vice chairman of the former Redge Technologies Supervisory Board.