CLTV28 Jan 2010 15:22
Wake up this board.Happy to have got here today at 0957.Then to see the RNS at 1100hrs.
Cellcast Asia named as one of the World's Top 100 private technology companies
Cellcast plc (AIM: CLTV), the interactive digital broadcaster, today announced that Cellcast Asia (a 37.5% associated company) has received the Red Herring 100 Global Award and has been named as one of the world's top 100 private technology companies.
Cellcast Asia is the leading supplier of participation TV formats and applications in the Indian subcontinent. In 2009, transactions per month grew from 2 million in January to over 10 million by December. This reflects the success of Cellcast Asia's new services, expanded distribution and the continuing strong growth of the mobile market in India, which added over 2 million new subscribers per month over the past year. Cellcast Asia is the first multi-platform participation TV company to be a recipient of the Red Herring 100 Global Award.
Red Herring's lists of top private companies are an important part of the publication's tradition of identifying new and innovative technology companies and entrepreneurs. Companies like Google, eBay, Skype and Youtube were spotted in their early days by Red Herring editors, and touted as technology leaders that would change the way we live and work.
The Red Herring media group considered 1,200 private companies, chosen from among the finalists and winners of the regional awards Red Herring 100 Europe, Asia and North America. For the past three years, the award has been given to the top 100 global technology companies based upon their technological innovation, management strength and strategy, market size, ecosystem integration, investor record, customer acquisition and financial health. "This year was especially difficult," said Alex Vieux, publisher and CEO of Red Herring. "Despite the global economic situation, there were so many great companies producing really innovative and amazing products that we had a difficult time narrowing the pool and selecting the finalists".
In response to news of the award, Pankaj Thakar CEO and co-founder of Cellcast Asia said, "To be named a Red Herring Global Award Winner is a tremendous honour, and we would like to thank the judges for recognising Cellcast Asia's innovative and proven business model. The award reflects the huge opportunity in India and across Asia arising from the convergence of the rapidly growing broadcast and mobile markets. It recognises Cellcast Asia's success in providing unique solutions to capture and monetise this opportunity, evidenced by our rapid traffic growth. None of this could have been achieved without the significant contribution of our principal founding shareholder Cellcast plc, whose investment, technology, and creative innovation ensured the successful launch and development of the venture."
Cellcast plc CEO Andrew Wilson commented: &q