TIDMMIRA
RNS Number : 0916P
Mirada PLC
29 August 2017
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.
29 August 2017
Mirada plc
("Mirada" or the "Company")
New Contract Win
New Contract Win with ATN International, Inc. for Mirada's Iris
Multiscreen Product
Mirada plc (AIM: MIRA), one of the leading providers of
integrated software solutions for Digital TV operators and
broadcasters, is pleased to announce a new contract win for its
Iris multiscreen product.
-- New contract with ATN International, Inc., including four cable networks in the Caribbean
-- Commercial launch of complete suite of Iris multiscreen
products expected towards the end of Mirada's current financial
year
-- Recurrent revenues through the implementation of the new OPEX
model, including providing subscriber-based licence fees on a
"SaaS" (Software as a Service) model
-- Contract expected to result in material monthly ongoing revenues.
-- Initial lower upfront payments associated with this model has
led the Board to seek financing facilities to provide working
capital
-- Discussions regarding financing facilities are advanced and
further announcements will be made in due course
The contract is with ATN International, Inc. ("ATNi"), a
NASDAQ-listed company, which operates in several US and Caribbean
locations under various trade names. Under the contract, Mirada
will provide products and services to four different Caribbean
operators owned by ATNi located in the U.S. Virgin Islands,
Bermuda, the Cayman Islands and French Guyana. Mirada will deploy
its complete suite of Iris multiscreen products, including its
over-the-top ("OTT") solution and back-end platform, Iris SDP,
across these networks. The commercial launch and subsequent
commercial deployment is expected to occur towards the end of
Mirada's current financial year.
This will be the most extensive launch of Iris since the
commercial launch for izzi Telecom in Mexico and is the result of
an increased focus on Mirada's sales and marketing activities. The
contract will provide Mirada with different revenue streams,
structured so that Mirada will receive various recurrent monthly
fees as well as fixed fees for professional services at the start
of the contract and on an ongoing basis. The contract is expected
to diversify Mirada's revenue streams, leading to a greater
proportion of recurring revenues and increased revenue
visibility.
Mirada will also be engaged as the 'System Integrator', to
coordinate all third-party providers involved in the overall
execution of the project. In addition, following deployment, Mirada
will manage all operations, services and maintenance across the
four networks.
The new project incorporates Mirada's entire Iris multiscreen
solution which provides an integrated cable TV and OTT solution.
Iris enables live, catch-up and on-demand content to be viewed
across advanced hybrid set-top boxes, smartphones and tablets, all
working seamlessly through Mirada's state-of-the-art Inspire user
interface. Subscribers will benefit from features such as
multiscreen viewing, the ability to pause viewing on one device and
resume viewing on another, and many other cutting-edge features all
managed by Mirada's back-end platform, Iris SDP.
Although the ATNi project should result in material monthly
ongoing revenues, the lower upfront payments associated with the
OPEX model (meaning lower set-up fees and subscriber-based licences
provided on a 'SaaS' - software as a service model) has led the
Board to seek financing facilities to provide working capital for
the Company's various projects over the medium-term, including ATNi
and other prospective projects. Discussions regarding additional
financing facilities are advanced and further announcements in this
regard will be made in due course.
José Luis Vázquez, CEO of Mirada plc, commented: "We are
delighted to announce the latest project for our Iris multiscreen
solution, especially for such a prestigious company as ATNi. This
contract demonstrates the successful execution of Mirada's growing
pipeline of international opportunities following the deployment of
Iris in Mexico and the Company's strategy to increase
competitiveness by diversifying revenue streams into deployment
models that also include relevant recurrent subscriber-based
licence revenues. We are also confident that Mirada's technology
will continue to attract the interest of other operators in the
near future."
Enquiries:
Mirada plc +44 (0) 20 3751 0320
José Luis Vázquez, investors@mirada.tv
Chief Executive Officer
Newgate Communications +44 (0) 20 7653 9850
Bob Huxford mirada@newgatecomms.com
James Browne
Adam Lloyd
Ed Treadwell
Allenby Capital Limited
(AIM Nominated Adviser
and Broker)
Jeremy Porter / Alex Brearley
/ Liz Kirchner +44 (0) 20 3328 5656
About Mirada
Mirada creates and manages products and services for digital TV
operators and broadcasters. With almost 20 years of experience, the
Company focuses on the future of Digital TV - multiscreen
cross-platform navigation - anytime, anywhere. It offers a complete
suite of end-to-end modular products for set-top boxes, PC,
smartphones and tablets, all with innovative state-of-the-art user
interface designs.
Mirada's products and solutions 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 and Spain. For more
information, visit www.mirada.tv.
About ATN International
ATN International, Inc., through its subsidiaries, provides pay
TV, wireless and wireline telecommunications services in North
America, Bermuda and the Caribbean. The company operates through
U.S. Telecom, International Telecom and Renewable Energy segments.
In addition, it owns and operates commercial distributed generation
solar power systems and terrestrial and submarine fibre optic
transport systems. The company was formerly known as Atlantic
Tele-Network, Inc. and changed its name to ATN International, Inc.
in June 2016. ATN International, Inc. was founded in 1987 and is
headquartered in Beverly, Massachusetts, USA.
Technical Glossary
Hybrid set-top box: a TV set-top box that enables both cable and
IP video transmission. Used within operators that offer both DVB
Cable and IPTV pay TV service.
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.
This information is provided by RNS
The company news service from the London Stock Exchange
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