Pilat Media Global Ltd. (AIM: PGB; TASE: PLMG) has sold its flagship a video-on-demand (VOD) system to a new US customer, whose name it did not disclose. The company signed a contract with a major US-based cable television network for the licensing, implementation and maintenance of its flagship Integrated Broadcast Management System (IBMS).
The contract is worth an initial £2.5 million, with additional revenue from the provision of maintenance and other services.
The new customer is Pilat Media's seventh customer to buy the IBMS and the thirteenth customer in the US. Other US customers include FOX, AT&T, CTV, CBS, Media General, E! Entertainment, Scripps, Playboy TV, National Geographic, LAPTV, Direct TV, and Discovery.
Pilat Media CEO Avi Engel said, "We alerted our shareholders in the third quarter of 2008 about this prospect and we are pleased to start the new year with the positive result of that evaluation. This contract is another milestone in our continued penetration of the North American market as a leading provider of new generation software solutions for managing large and complex TV businesses. The new .Net version of IBMS will enable the cable network to become more competitive by streamlining its operations for both linear and on-demand programming and by making it easier and faster to launch new services and new channels."
Pilat Media's share rose 4.4% in morning trading on London’s Alternative Investment Market (AIM) to ₤0.12, giving a market cap of ₤7 million. The share rose 5.3% in morning trading on the TASE to NIS 0.57.
Published by Globes [online], Israel business news - www.globes-online.com - on January 8, 2009
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