Another Canadian company is on the verge of going public this year. Following Shopify, and soon Shoes.com, is Montreal-based Stingray Digital Group by announcing plans for its initial public offering to raise $140 million (CAD). The company noted in a release that the price will be $6.25 per share and expected to close on June 3rd and puts the value of the company at $296 million.
Stingray was founded Eric Boyko and Alexandre Taillefer in 2007 by and offers both music and video content on a number of platforms including mobile, TV, internet and gaming consoles. The company recently purchased CHUM Satellite Services from CTVglobemedia and last year acquired Concert TV from Interactivation.
The IPO will be managed by National Bank Financial, GMP Securities and BMO Capital Markets.
Stingray was recently announced as being one of Deloitte’s winners of the Technology Fast 50 program.