RE: Motive Television5 May 2015 08:06
[MTV]
Twin Peak S.A. (Twin Peak) has agreed to a one-year renewable commercial contract for the Motive/Twin Peak video solution with Attica Group (Attica Holdings S.A.) of Athens Greece, provider of ferry services from Greece to Italy and the Greek islands.
Attica Group (ATTICA: Athens Stock Exchange) operates Superfast Ferries and Blue Star Ferries in the Adriatic and Greek Domestic Sea. Four Superfast Ferries serve routes between and among Venice, Ancona, and Bari in Italy and Corfu, Igoumenitsa, Patras, and Athens. Eight Blue Star Ferries provide service between and among Athens (Piraeus), Crete, and the Greek Islands. Attica Group reported carrying 4.13 million passengers on these operations in calendar year 2014.
The agreement with Twin Peak covers deployment on all Attica Group ferries with BYOD services planned to begin 15 May 2015. On 24 March 2015, the Company announced the commencement of testing of the BYOD services on the Attica Group ships without identifying them as the client.
The revenue to Motive from this contract will depend upon the number of passengers buying the service, however, in the case of the 12 Superfast and Blue Star ferries, a conservative forecast for Motive might be in the annual range of ā¬600 thousand to ā¬800 thousand (Ā£440,000 to Ā£588,000) per year.
Leonard M Fertig, CEO of Motive commented, "Motive's second BYOD customer, with 4 million passengers, gives our business critical mass and should help advance our ongoing discussions with other ferry and maritime prospects. The BYOD solution is unique, highly efficient, and is receiving much interest among the ship operating and communications community worldwide. It is a highly scalable business for Motive and we expect more opportunities in the future."
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