Prior to publication, the information contained within this announcement was 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, this information is now considered to be in the public domain.
7 December 2018
("Mirada", the "Company" or the "Group")
New contract win
Mirada plc (AIM: MIRA), a leading provider of integrated software solutions for Digital TV operators and broadcasters, is pleased to announce the signing of a new contract for its Iris multiscreen product.
The contract is with Sky Media Corporation LLC, a subsidiary of Skytel LLC ("Skytel"), a leading communications service provider in Mongolia. Skytel has chosen Mirada's Iris multiscreen solution for a new generation pay-TV service that will deliver a cutting-edge viewing experience across all devices, helping to gain new and retain existing subscribers.
This new project will be conducted in two phases. Phase one will be the roll-out of an OTT TV solution to enable Skytel customers to watch live, catch-up and on-demand content on their smart-device of choice, including laptops, iOS and Android smartphones and tablets. This viewing experience will be seamlessly provided through Mirada's state-of-the-art Inspire user interface. Subscribers will also benefit from cutting-edge features including multiscreen viewing, the ability to pause viewing on one device and resume viewing on another, cloud DVR (digital video recorder) and more. These features will all be managed by Mirada's cloud-based back-end platform, Iris SDP.
Following the successful launch of phase one, which is expected to occur towards the end of Q1 2019, Skytel plans to expand its offering of Iris to Internet protocol (IP) set-top boxes and other connected devices in phase two.
This is the first commercial deployment of the complete Iris multiscreen solution in Asia, establishing a valuable product reference for Iris in the region and further demonstrating Mirada's ability to deliver a complex solution across a leading IPTV provider's network.
Over the past five years, the total number of internet subscribers in Mongolia has grown by more than 60%, suggesting great potential for Skytel's over-the-top (OTT) offering. Total IPTV subscribers in the Mongolian pay TV market have more than doubled, having increased by 116%, since 2014.
Narantuya Dash, CEO of Skytel LLC, commented: "Mongolian digitalisation and the ICT sector are in a rapid development stage and the key players have been engaging in a quad-play strategy in recent years. Skytel has established telecom subscribers and decent success in the IPTV business, so deploying the OTT service to telecom and household subscribers will bring our business to the next level. We seek for the best of the best, and I'm so glad to announce that after a careful selection process we have concluded to work with Mirada as our OTT solution provider. We are sure that this partnership will lead to definite success and a world class product and service to customers."
José Luis Vázquez, CEO of Mirada plc, commented: "It is fantastic to see yet another established operator choose our Iris technology to power their service to subscribers, in what is a new and exciting region for Mirada to enter. We are thrilled to announce this latest contract and we look forward to seeing the results of what we are sure will be a long and fruitful partnership with Skytel."
José Luis Vázquez, Chief Executive Officer
Gonzalo Babío, Finance Director
Allenby Capital Limited
(Nominated Adviser and Broker)
Jeremy Porter / Alex Brearley / Liz Kirchner
+44 (0) 207 868 2104
+44 (0) 20 7680 6550
+44 (0) 20 3328 5656
Mirada is a leading provider of products and services for Digital TV Operators and Broadcasters. Founded in 2000 and led by CEO José Luis Vázquez, the Company prides itself on having spent almost 20 years as a pioneer in the Digital TV market. Mirada's core focus is on the ever-growing demand for TV Everywhere for which it offers a complete suite of end- to-end modular products across multiple devices, all with innovative state-of-the-art UI designs.
Mirada's products and solutions, acclaimed for unparalleled flexibility and optimal time to market, 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, Spain and Mexico. For more information, visit www.mirada.tv
About Skytel LLC
Skytel LLC, based in Ulaanbaatar, Mongolia, established in 1999, provides mobile telecommunication services, mobile broadband services, IPTV, triple services, which include flexible packages, data-center service, and software. Skytel LLC is the fastest evolving company that offers both mobile and fixed of products for individual users, organizations, and households.
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.
Internet Protocol Television (IPTV): A service that provides television programming and other video content using the TCP/IP protocol suite as opposed to traditional cable or satellite signals.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.