N.DS is planning to raise up to $100 million as part of an initial public offering, according to papers filed with the US Securities and Exchange Commission.
Plans for an IPO first emerged in July this year, shortly before the appointment of Dave Habiger, the former CEO of internet movie distribution company Sonic Solutions, as the technology company’s CEO. At the same time his long-time predecessor Abe Peled moved to become executive chairman.
Morgan Stanley, Goldman Sachs & Co. and JP Morgan Securities will underwrite the offering.
Established in 1988, N.DS was integrated into News Corp two years later, before being taken private in July 2011 when Permira became the controlling shareholder with a 51% stake.
N.DS has remained a key part of News Corp’s pay-TV strategy. Its technology is behind the Sky Go multiscreen product for BSkyB and Sky Deutschland, as well as the IP-delivered Sky Anytime+.
The company has more than 75 pay-TV customers worldwide, both inside and outside the News Corp group of companies. They include Comcast, DirecTV, Foxtel, Kabel Deutschland, Get, Kabel BW, Sky Italia, Sky Deutschland and BSkyB.
Neither the price or the number of shares to be sold have been revealed.
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