At the end of 2020, major development took place concerning ownership of Redge Technologies, formerly known as Atende Software.

On December 29, 2020, the parties signed an agreement for the sale of 100% of shares in Atende Software, a subsidiary of Atende S.A. The acquiror is a company affiliated with Custodia Capital, an investment company supporting small and medium-sized entities in Central and Eastern Europe through private equity capital. The transaction value amounts to PLN 52.5 million.

Atende Software was established in 2007 and, from the beginning, was  focused on the development and commercialization of its redGalaxy platform, a basis for OTT technology. Starting from 2015, the company has been developing and implementing its redGuardian platform, the first operator-class system of protection against DDoS attacks in Poland. Today, the platforms are known as Redge Media and Redge Guardian respectively.

Since 2011, Atende Software has also worked on the development of systems for the energy sector, specifically in the area of Smart Grid software. On November 30, 2020, this segment was carve out from Atende Software and moved to a newly formed company – Atende Industries, which is currently solely owned by Atende S.A.

– I am proud that, as part of the Atende group, we have created a company, which has become the leader of OTT and streaming technology in Poland, all within ten years. We have several years of intensive work ahead of us – to ensure that the products are recognizable not only in the domestic market, but also globally. – comments Przemysław Frasunek, investor and member of the management board of Atende Software.

– A world-class team of engineers led by the current management board has created the undisputed leader in Internet television technology in Poland. We will support Atende Software in the further development of innovative multimedia solutions for the company’s existing clients, as well as in rapid expansion – both in terms of products and geography. We would like to thank the company’s management board and the seller – Atende S.A. for the entrusting us with the next phase of growth and development of Atende Software . I would also like to highlight that the entire transaction was carried out during the pandemic, and therefore mostly remotely, which aptly underscores the inevitable and on-going migration of communication and multimedia to the Internet – comments Tomasz Potapczuk, director of Custodia Capital and vice-chairman of the supervisory board of Atende Software following the ownership change.

About Custodia Capital

Custodia Capital is an investment company focusing on private equity investments in the Polish SME sector. Custodia Capital invests in promising leaders that are yet to showcase unrealized potential for rapid growth and expansion in their respective segments.