Multilaw firms Duane Morris LLP (US) and Herbst Kinsky (Austria) represented separate parties in the making of a loan to Bitmovin GmbH, a subsidiary of Bitmovin Inc US, of up to EUR 20 million by the European Investment Bank. Bitmovin, founded in 2013 in Klagenfurt, Austria, is a multimedia technology company. The company is a leading provider of video infrastructure for online media companies around the world. The company has been at the forefront of all major developments in online video – from building the world’s first commercial adaptive streaming player to deploying the first software-defined encoding service that runs on any cloud provider or in a data centre.

Bitmovin works with media companies across the globe to build innovative video products that deliver video to billions of consumers every day. Bitmovin Inc US issued a warrant for the loan to the EIB. The EU bank’s loan is backed by a guarantee from the European Fund for Strategic Investments, the heart of the Investment Plan for Europe – the Juncker Plan – under which the EIB and the European Commission are working together as strategic partners and the EIB’s financing operations are boosting the competitiveness of the European economy.