artec technologies develops and produces software and systems solutions for the transmission, recording and analysis of video, audio and metadata in networks or on the internet.
artec recorded a strong 2018, with revenues doubling to €2.9m and the group returning to a small profit. It received a number of important reference orders over the year, which adds impetus to marketing and boosts the potential for future growth. In addition, early this year a major US competitor, Verizon Digital Media Services (VDMS), unexpectedly said it was exiting the market. This provides additional possibilities for artec if VDMS’s European customers (Volicon Observer product) are interested in an alternative supplier. If management can sustain the momentum, we believe there is significant upside in the shares.