viewMirada PLC

Mirada shares jump as it launches Iris multiscreen service for Digital TV Cable in Bolivia

“The continuing rapid growth of the Bolivian TV market and the potential for increased subscribers makes this a very exciting project for Mirada," said Mirada's José Luis Vázquez

family watching TV and tablets on couch
It aims to be on close to one million devices

Mirada PLC (LON:MIRA) shares jumped higher on Tuesday after the firm announced the commercial launch of Iris, a multiscreen solution for its contracted service with Bolivian partner Digital TV Cable Edmund.

Iris allows Digital TV Cable's subscribers to watch live and on-demand content across all devices, with the seamless user experience and advanced functionalities.

It is being delivered under a five-year contract based on Mirada's software as a service (SaaS) model, structured in such a way that Mirada receives long-term recurring revenue streams. In addition to initial set-up fees, Mirada will receive monthly revenues from subscriber-based license fees and the potential ongoing deployment of new features and services.

WATCH: Mirada showing 'healthy growth' as adoption of its technology accelerates

Mirada says the service is aiming to be on close to a million devices over a gradual five-year roll-out.

“The continuing rapid growth of the Bolivian TV market and the potential for increased subscribers makes this a very exciting project for Mirada and represents another high-profile endorsement of our technology," said José Luis Vázquez, Mirada chief executive.

Edmund Daher, Digital TV Cable president, meanwhile, added: "We are delighted to launch Mirada's Iris multiscreen solution across our network, which will allow our subscribers to access a multitude of new features across their devices, creating a seamless user experience.

“Access to Mirada's superior data intelligence platform will also give us the tools to properly analyse the way our content is consumed, such that we are better able to give our customers what they want when they want it."

In late morning trading, shares in Mirada were up 28% to 0.80p.

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Quick facts: Mirada PLC

Price: 95 GBX

Market: AIM
Market Cap: £8.46 m

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