15 Sep 2010 13:07
15 September 2010
Motive Television PLC
("Motive" or the "Company")
(AIM: MTV.L)
Acquisition of the assets of NXVision Limited
Motive Television plc, the AIM-quotedbroadcast television technology and services provider, is pleased to announce that it has today entered into an agreement to acquire the assets of NXVision Limited (in liquidation) ("NXVision") from the liquidator for a total consideration of £10,000 in cash. NXVision is a Dunfermline-based Company, founded in 2006, that developed proprietary software that allows any internet-connected device or mobile phone to obtain and display anything available on a home set-top-box ("STB") or Internet connected television.
An agreement, in principle, has been reached with the founders and key staff of NXVision to establish a commercial plan for the exploitation of the assets. Once an acceptable commercial plan is agreed by both parties, it is intended that a joint venture will be established which will be owned 20 per cent by the founders of NXVision and 80 per cent by Motive.
While the ability to watch TV on mobile devices is available from many mobile carriers, the Board believes that there will be demand from viewers to be able to access their personal home entertainment live from anywhere, i.e. any programmes that are available from a viewer's home TV - including any content that is pre-recorded on TV plus or stored on a viewer's hard drive connected to the television or in the STB.
Motive is particularly interested in exploring the possibility of NXVision's software enhancing the Bestv® technology for which it has the global distribution rights (excluding Spain and Italy).
Commenting on the acquisition Mick Pilsworth, Chairman of Motive Television, said: "We believe that the NXVision's software could be easily integrated with the Bestv® technology and we are excited by the possibilities that the combination could offer.
"This demonstrates our ability to seek out technological opportunities to complement the existing business, which we will continue to do, in turn adding value for shareholders."
---END---
Contact:
| Motive Television plc Leonard M Fertig, Chief Executive Officer | T:020 3086 9430 |
|
|
|
|
Merchant Securities Limited Simon Clements/Virginia Bull |
T: 020 7628 2200
|
|
Bishopsgate Communications Gemma O'Hara/Siobhra Murphy motive@bishopsgatecommunications.com |
T: 020 7562 3350 |
|
|
|
Notes to Editors
About Motive Television Plc
Motive Television (www.motivetelevision.co.uk) is a leading media investment company, specialising in digital television technology providers and television rights owners. Based in London, it is listed on the AIM and is led by television industry experts Mick Pilsworth and Len Fertig.
Motive's first transaction in the DTT sector was the agreement of worldwide distribution rights, outside of Spain and Italy, for a DTT solution called BesTV®. BesTV®, a patented software that allows DTT broadcasters to offer low-cost premium and time-shifted services with or without Internet connection.
About NXVision
NXVISION Limited is located in Dunfermline, Scotland and was founded in August 2006 as Inxstor Ltd, to take advantage of its unique Placeshifting IP. NXVision, in a short time, has established itself as a leading supplier of STB applications, including end-to-end Place-Shifting and Sideloading solutions for the secure delivery of video content.