Commercial launch of Iris in Bolivia

RNS Number : 8023U

Mirada PLC

02 April 2019

 

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.

2 April 2019

Mirada plc

("Mirada" or the "Company")

Commercial launch of Iris in Bolivia

Mirada, a leading provider of integrated software products and services for digital TV operators and broadcasters, is pleased to announce the commercial launch of its Iris multiscreen solution for its previously announced multi-year contract with Bolivian operator Digital TV Cable Edmund S.R.L. ("Digital TV Cable").

The commercial launch follows the contract win announced on 6 October 2017 and will allow Digital TV Cable's subscribers to watch live and on-demand content across all devices, with the seamless user experience and advanced functionalities of Mirada's end-to-end Iris multiscreen solution. Digital TV Cable is planning for its platform to serve not only existing subscribers but, with the new competitive advantage provided by Mirada's technology, hundreds of thousands of anticipated new customers.

This deployment will allow Digital TV Cable subscribers to watch TV with live, pause and start-over across advanced OTT set-top boxes, smartphones, tablets, computers and smart TVs. Digital TV Cable will also have access to LogIQ, Mirada's data intelligence platform, allowing it to make informed, data-driven decisions on customer requirements. The launch will be accompanied by a full marketing campaign, orchestrated by Digital TV Bolivia.

This project sees Mirada entering into a new, emerging market which offers great potential. According to S&P Global's Market Intelligence Platform, the number of digital TV subscribers in Bolivia is expected to grow at a compound annual growth rate of 19.9% between 2018 and 2021.

This five-year contract is based on Mirada's 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. A gradual roll-out is planned over five years, with a target of up to nearly one million devices.

Edmund Daher, President of Digital TV Cable, commented: "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."

José Luis Vázquez, CEO of Mirada plc, commented: "It is with great pleasure that we announce the commercial launch of our Iris multiscreen solution with Digital TV Cable. 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."

Enquiries:

Mirada plc José Luis Vázquez, Chief Executive Officer Gonzalo Babío, Chief Financial Officer	[phone] [e-mail]
Newgate Communications Bob Huxford Tom Carnegie Allenby Capital Limited (AIM Nominated Adviser and Broker) Jeremy Porter Liz Kirchner	[phone] [e-mail] [phone]

About Mirada

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 Digital TV Cable

Digital TV Cable is a cable and internet 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 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.

 

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