6 Oct 2017 07:00
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
6 October 2017
Mirada plc
("Mirada" or the "Company")
New Contract Win
New Contract Win with Digital TV Cable Edmund S.R.L. for Mirada's Iris Ecosystem
Mirada plc (AIM: MIRA), a leading provider of integrated software solutions for digital TV operators and broadcasters, is delighted to announce a new contract win for its Iris multiscreen solution.
The five year contract is with Digital TV Cable Edmund S.R.L. ("Digital TV Cable"), a Bolivian pay TV operator and broadband services provider based in Santa Cruz, Bolivia. Under this significant contract, Mirada will deploy its entire suite of Iris multiscreen products, including its over-the-top ("OTT") platform and back-end application, Iris SDP, across Digital TV Cable's network. A gradual roll-out is planned over five years, with a target of up to nearly one million devices.
This project will utilise Mirada's entire Iris multiscreen solution, which will enable subscribers to view live, catch-up and on-demand content across IPTV/OTT set-top boxes, smartphones, tablets, smart TVs and personal computers, all working seamlessly through Mirada's Inspire user interface. Digital TV Cable's customers will also benefit from many cutting-edge features, including multiscreen viewing, exclusive content discovery tools, the ability to pause viewing on one device and resume viewing on another and much more, all managed by Mirada's powerful back-end platform, Iris SDP.
According to reports from Pyramid Research and Marktforschung, Bolivia is the fastest-growing telecoms market in Latin America with total telecom revenues expected to reach US$1.5 billion in 2019. With Bolivia's pay TV household penetration rate predicted to grow from 10.9% in 2014 to 27.1% by 2019, this project will see Mirada entering into a new and highly promising market.
This contract will be based on Mirada's new Software as a Service (SaaS) model, which is structured so that the Company will receive long-term recurring revenue streams. In addition to initial set-up fees, Mirada will also receive monthly revenues from subscriber-based license fees and the potential ongoing deployment of new features and services.
José Luis Vázquez, CEO of Mirada plc, commented: "We are delighted to announce our project with Digital TV Cable in Bolivia for our Iris multiscreen solution. This represents the second new contract win for Mirada in less than two months and demonstrates the successful conversion of Mirada's extensive pipeline of opportunities for our powerful multiscreen product, which has been growing its number of first-class reference deployments over the last few years. We look forward to providing Digital TV Cable's subscribers with the ultimate viewing experience, while also further consolidating our presence in the fast-growing Latin American market."
Elio Montes, CEO of Digital TV Cable, commented: "We are very pleased to start working with Mirada as our partner. We are certain that having Mirada on board for solutions for consumer interaction, with content and services, will make a real difference to our digital users."
Enquiries:
Mirada plc +44 (0) 20 3751 0320
José Luis Vázquez, Chief Executive Officer investors@mirada.tv
Newgate Communications +44 (0) 20 7653 9850
Bob Huxford mirada@newgatecomms.com
James Browne
Allenby Capital Limited +44 (0) 20 3328 5656
(AIM Nominated Adviser and Broker)
Jeremy Porter / Alex Brearley / Liz Kirchner
About Mirada
Mirada creates and manages products and services for digital TV operators and broadcasters. With almost 20 years of experience, the Company focuses on the future of Digital TV - multiscreen cross - platform navigation - anytime, anywhere. It offers a complete suite of end-to-end modular products for set-top boxes, PC, smartphones and tablets, all with innovative state-of-the-art user interface designs.
Mirada's products and solutions have been deployed by some of the biggest names in digital media and broadcasting including Televisa, Telefonica, Sky, Virgin Media, BBC, ITV and France Telecom. Headquartered in London, Mirada has commercial representation across Europe, Latin America and Southeast Asia and operates technology centres in the UK and Spain.
For more information, visit www.mirada.tv.
About Digital TV Cable
Digital TV Cable is a cable and satellite company which provides TV and broadband services to the area of Santa Cruz de la Sierra in Bolivia. Digital TV Cable is currently deploying a Fibre to the Home (FTTH) network with the view to offering OTT and IPTV services to customers nationwide in the near future.
For more information, visit digital.com.bo/site/
Technical Glossary
Over-the-top (OTT): Delivery of TV content via the internet, without requiring users to subscribe to a traditional cable or satellite pay TV service. Traditional pay TV operators incorporate OTT services into their commercial offering in order to compete with pure OTT services, such as Netflix, Hulu or Amazon Prime Video.