Pro-Bel Reveals IPO Plans

Pro-Bel, the U.K.-based leading manufacturer and supplier of routing switchers, signal processing, master control, automation, control and monitoring technologies, says it plans to go public. The company told staff and dealers at its pre-NAB2006 meeting that advisors have been appointed to plan an IPO in Q4 of 2006.

Pro-Bel's Chief Executive Graham Pitman said that over the last three years Pro-Bel has virtually doubled its revenue. Aided by last year's successful acquisition of Vistek, a global supplier of interface products to the broadcast media industry based in the U.K., the company anticipates this year's revenue to grow to about $60 million.

"We have always been an innovative company and our customers are excited about our vision of the future. We believe an IPO is the most effective means of enabling us to pursue that vision," Pitman said.

Pro-Bel will reside on AIM, within the London Stock Exchange.