Chinese TV Agreements for Bibop
24 October 2011
Brainspark plc
("Brainspark" or "the Company")
Chinese TV Agreements for Bibop
Brainspark (AIM: BSP), announces that its subsidiary Bibop Spa ("Bibop"), a leading Social TV Company specialising in digital media projects, following a visit to the Shaanxi Television Station and meetings with management earlier in the month, has signed two memorandums of understanding (MoU).
The first MoU has been signed with the Chinese company Shaanxi TV and BC Wireless Information Communication Co., LTD, which is wholly owned by the Shaanxi Television Station and whose main business is mobile value added services, mobile TV, games development, cartoon production and broadcasting, mobile e-commerce and media projects development. Bibop will commence a pilot project for the application of its Mycast Social TV technology. The signing of this MoU represents the first step in a larger collaboration between the two companies which will be agreed at a future meeting.
The second MoU has been signed the Xi'an Qujiang Film & TV Investment Group Co., Ltd, to work with Bibop to focus on the investment, production and publishing of film, while also pursuing investments and operations in the Chinese cinema market.
To secure the long-term cooperation with both Chinese companies and, for the future development of Bibop products within China, Bibop will set up a local company in that country. Edward Burman, a Non-Executive Director of Brainspark who resides in China, will take a prominent role in the organisation or development of these projects.
Alfredo Villa, Chairman and CEO of Brainspark, commented, "Bibop is now a market leader in interactive video and digital media, with many of the world's leading broadcasters and TV studios currently trialling the system. The new venture in China is a massive step for the company and we expect to be presented with a large number of opportunities."
Gabriele Gresta, President and CEO of Bibop, Non-Executive Director of Brainspark, commented, "China is a fascinating and exciting market for digital media as the market is still young but is expected to experience vast growth over the next two years. Bibop is now perfectly placed to take advantage of these developments and become a market leader within the country."
-ends-
For further information please contact:
Brainspark plc +39 02 525 051
Alfredo Villa, Chairman and CEO
Arbuthnot Securities +44(0) 20 7012 2000
Antonio Bossi / Ed Groome
Leander PR +44(0) 7795 168 157
Christian Taylor-Wilkinson
About Brainspark Plc
Brainspark plc (AIM: BSP) is an AIM listed investment company pursuing a dynamic strategy to create a comprehensive portfolio of companies primarily encompassing the interactive media, leisure, entertainment and financial services sectors mainly in Italy but also other European countries. Its core investment is B'Parks & Leisure, the owner of a site in northern Italy with plans for the development of a large theme park. The company may be either a passive or active investor and Brainspark's investment rationale ranges from acquiring minority positions with strategic influence through to larger controlling positions.
This information is provided by RNS
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