A company which brings a whole new meaning to product placement is to float on London's junior market, giving it a value of more than £60m.
Advertising company Mirriad uses 3D technology to superimpose advertising into film and TV, a method known as "native in-video advertising". This means, for example, that posters in the background of scenes could show advertising, as in the How I Met Your Mother frame below.
The company is currently in the portfolio of London-listed IP Group. It has now successfully priced an IPO and applied for admission to Aim.
The group has raised £26.2m through a conditional placing, with shares at 62p each.
This will equate to a market capitalisation of £63.2m on admission, which is currently set for 19 December.
"This is an important milestone for the Group," said chief executive Mark Popkiewicz. "Our proprietary technology, blue-chip customer relationships and operational momentum ensures we are ideally-placed to grow rapidly and drive returns for all stakeholders."
The group says its technology has growth potential because viewers increasingly skip or block adverts. It allows advertisers to insert a message into the storyline of the media, so that it reaches the so-called "skip generation".
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