UTStarcom Announces aioTV Receives Recognition as a Leader in Digital Media Business
BEIJING, May 29, 2013 /PRNewswire/ -- UTStarcom Holdings Corp. ("UTStarcom" or the "Company") (NASDAQ: UTSI), a leading provider of media operational support services and broadband equipment products and services, today announced that its partner, aioTV Inc. (pronounced "A-O TV"), a leading international OTT and IP video platform, was selected as one of four vendors essential for all digital media businesses in the 2013 Cool Vendors Report published by Gartner, the world's leading information technology research and advisory company.
The Gartner 2013 Cool Vendors in Media Report identifies key solutions providers that Gartner predicts are essential to the success and monetization of a digital media business. Gartner specifically recognized aioTV as a solution that quickly enables service providers, broadcasters and cable networks to deliver both live and on demand video content through a portal that consumers can customize and access on various connected devices.
"We are very pleased to receive this prestigious recognition from Gartner," said Mr. Mike Earle, CEO of aioTV. "Most importantly, this underscores how the market for media consumption is changing and also validates our customers' decision to select aioTV's products and solutions. aioTV has created a platform that combines conditional access and content management tools for operators to aggregate multiple sources of content into a consistent TV-like experience across connected devices. Going forward, we expect to work with UTStarcom, our largest shareholder, to accelerate our ability to deploy our recognized technology in emerging markets in Asia."
UTStarcom acquired a 44% stake in aioTV in November 2012 as part of its strategy to expand into media operational support services and is the single largest shareholder of aioTV. This investment gives UTStarcom access to technology that will bolster its rollout of subscription-based value added media services.
"This is an important milestone in aioTV's growth," said Mr. William Wong, UTStarcom's Chief Executive Officer. "This critical recognition also demonstrates our ability to find the right partner in the industry with technology to deliver the value-added media services that consumers increasingly demand. We view aioTV as a key strategic partner and expect that it will help UTStarcom realize our vision of becoming a leader in providing next generation media services. In the long-term, UTStarcom will also look for opportunities to jointly develop new service offerings with aioTV, and as aioTV's single largest shareholder we will continue to aggressively support aioTV by working closely with its management team to find opportunities to continue to grow."
About the Gartner Report
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*Gartner "Cool Vendors in Media, 2013" by Allen Weiner, Mike McGuire, Andrew Frank, 30 April 2013.
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About UTStarcom Holdings Corp.
UTStarcom is focused on providing next generation media operational support services in the rapidly growing markets for TV over IP services and broadband equipment products and services. UTStarcom is committed to meeting the evolving needs of cable and broadband service providers to enable a more personalized entertainment experience. The Company sells its media operational support services and broadband equipment products and services to operators in both emerging and established broadband and cable markets around the world.
UTStarcom was founded in 1991 and listed on the NASDAQ in 2000. It has operational headquarters in Beijing, China and research and development operations in China and India. In year 2011, the Company deployed a revamped growth strategy that concentrates on providing media operation support services. For more information about UTStarcom, visit the Company's Web site at www.utstar.com.
About aioTV Inc.
aioTV is a white label video platform for licensed and unlicensed content targeted at service providers worldwide to allow them to integrate multiple sources of live, on-demand and freely available video content into a unified TV experience across connected devices. The company's flagship products and cloud based management platform leverages existing infrastructure, billing platforms and DRM for a quick, seamless implementation.
SOURCE UTStarcom, Inc.