Proposed offer price: $11.00 to $13.00
Shares offered (mil.): 3.0
Offering amount (mil.): $36.0
Post-offering shares (mil.): 11.0
The effect of Digimarc's products may not be entirely
visible. The company develops digital watermarks that
are embedded for tracking in photos, movies,
documents, and other data to discourage counterfeiting.
Digimarc also designs technology to help banks combat
forged currency (51% of sales). Graphics software
companies, such as Adobe, include the company's
software with their products so photographers, designers,
and stock photo providers can ensure that their
copyrighted material is used legally. Customers include
National Geographic Society, Time, and Fox
Entertainment. Fellow copyright protection technology
specialist Macrovision owns 12% of Digimarc; other
investors include Adobe, Reuters, and SOFTBANK.
Ben Holmes @ theStreet.com:
My take: This is neat technology that's been around a while. With content like
graphics becoming more easily monetized, IP protection becomes more and
more valuable. Big backers like Macrovision and Reuters make this a very
serious deal. Be prepared to say "Wow!"