Friday, June 8, 2007

Espial Goes Public

Espial is a company I've been following for some time, and they had some great news today. This morning was the official announcement of their IPO on the Toronto exchange - the TSX - and their trading symbol will be ESP. How cool is that for a symbol?!?!

This may well be the first you've heard of the news, as the press release has not been made available yet over the U.S. PR wires. I suspect it will hit the wires first thing Monday, but you're reading about it here today.

In short, as reported in the release, the stock will list at $7.00, and if all goes well, Espial will raise $25 - $30 million, which will go a long way to fuel their growth plans. They have a good story to tell in the IPTV middleware space, which is going through its own consolidation phase. With this IPO, Espial should be in a great spot to emerge as one of the leading independent middleware vendors.

IPOs of Canadian vendors in the IP communications space are pretty hard to come by, and I expect Espial will be well received. So, congrats to Espial, and being Ottawa-based, this is probably the best feel-good story out there, since the Senators went out quietly this week!

If you're interested in Espial, I'll be doing a podcast with them soon about the IPO, and if you can't wait for that, I also did one with them about a year ago.

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