Network Multimedia Television (NMTV), a London, UK-based IT news service, which has just received 11m pounds ($17.2m) in venture funding, is tipped to be one of the UK’s largest internet IPOs in a flotation expected next year. NMTV, publisher of Silicon.com, is now looking to increase the geographic spread of its site after raising money from Amadeus Capital Partners. Schroder Ventures, Dresdner Kleinwort Benson, Gilde IT and T-venture, a Deutsche Telekom subsidiary. The German involvement in the funding points to an early roll-out of a German version of the site, which offers both a news service and a search facility for IT jobs.
Press reports have suggested that NMTV could have a stock market valuation of around 800m pounds ($1.3bn). While the company would not commit itself to a figure, it says current annual revenue is in the 3m-3.5m pound ($4.8m-$5.4m) range.
