UTStarcom Holdings announced that it recently acquired a significant minority stake in aioTV, Inc.
aioTV stands for “all-in-one TV” and is a leading international cloud-based video aggregation and distribution platform. UTStarcom is a leading provider of Broadband equipment and solutions. This deal gives UTStarcom access to technology that will support its rollout of subscription-based, value-added media services, and gives aioTV a partner with whom to offer its technology in emerging markets in Asia.
“We view aioTV as a key strategic investment and expect that it will help us realize our vision of becoming a leader in providing next generation media services,” said Mr. William Wong, UTStarcom’s Chief Executive Officer. “This is exactly the type of company we want to partner with as we seek to provide a highly personalized entertainment experience that is available on the devices that customers are increasingly embedding into their lifestyle.”
The investment gives UTStarcom a 44% stake in aioTV and makes it the largest single shareholder. As part of the transaction, UTStarcom will acquire seats on aioTV’s board of directors. The management team, led by Michael Earle, Chief Executive Officer, and Jim Anderson, Chief Operating Officer, will continue to set and execute aioTV’s strategy and product development initiatives.
aioTV developed the first middleware platform that combines conditional access and content management tools for network operators to aggregate multiple sources of content into a consistent TV-like experience across a range of connected devices. The technology locates and aggregates Internet and licensed video content metadata and ultimately delivers a common experience and content to viewers. aioTV currently works with consumer electronics makers, cable and telecommunications service providers and broadcast partners in North America, South America, Europe, and the Middle East to provide their middleware platform to millions of customers.
UTStarcom intends to look for opportunities to offer aioTV’s technology in Asia where it has relationships with regional cable service providers and broadcasters. The aioTV platform will allow these operators to package and control a mixture of web content, licensed linear and video-on-demand (VOD) content into a consistent video experience that runs across connected devices in any language and on any broadband network. UTStarcom is also looking for opportunities to jointly develop new service offerings with aioTV in collaboration with the company’s other strategic partners, such as iTV Media.
“We see emerging markets as some of the most eager adopters of next generation Internet-delivered video services,” said Michael Earle, CEO of aioTV. “This strategic investment from UTStarcom gives us the platform to meet the shift in global video consumption and will accelerate our ability to deploy our technology in some of the fastest growing markets in Asia.”
UTStarcom, founded in 1991, is a leading provider of Broadband equipment and solutions for cable and telecom operators. The company sells its solutions to operators in both emerging and established telecommunications and cable markets around the world. UTStarcom enables its customers to rapidly deploy revenue-generating access services using their existing infrastructure, while providing a migration path to cost-efficient, end-to-end IP networks.
For more information about UTStarcom, visit www.utstar.com
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