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PeerTV reveals major client win and successful share placing


 
PRLog - May 19, 2014 - PeerTV, the TV over the internet (http://www.peertv.com/#!about-us/cjyp) (OTT) technology solutions provider announced this week that its printed circuit board subsidiary, Digitek SMT Assemblies, has been selected to provide fully finished printed circuit boards as part of a high volume domestic appliance manufacturing contract for an Israeli client. The deal is expected to be worth $6.3 million and is scheduled to be delivered this calendar year.

Commenting on the order, Avi Vermus the Chief Executive Officer of Digitek (http://www.peertv.com/#!contact-us/czoa) said "This is a very important strategic order for Digitek. Mass production gives us the opportunity to fully utilize our production facilities on a continuing basis and maximize our efficiencies and profitability. It is the strongest sign yet of our success in repositioning the business. It is particularly pleasing that our success in winning this order was due to our ability to provide an innovative design and solution, resulting in a win win for Digitek and our customer."

At the same time, the directors are pleased to report that a private placing of 26.63 million shares to raise working capital was successfully completed. Shareholders also received 5 year warrants to purchase an equal number of shares at a price of 1.5p each.

PeerTV (http://www.peertv.com/) recently announced the Russian broadcaster Kartina has launched the Kartina IQ set top box, which was developed jointly with PeerTV. The Kartina IQ set top box is based on PeerTV’s Android based eTV system and underwent extensive consumer testing last year, with customer feedback and results exceeding Kartina’s expectations. Following this announcement, a second order was placed by another national TV broadcaster for PeerTV’s Android based OTT system.

PeerTV was one of the first companies in the market to launch an Android based set top box bringing together the advantages of the Android operating system, apps and a quick and smooth user experience to enable TV or web viewing via a single unit. The PeerTV package has been carefully designed to meet the unique needs of the OTT marketplace, delivering a flexible platform that can be customised both by the end user and by corporate buyers of the system.  PeerTV’s technology is expected to be bought by ISPs, ethnic TV service providers, content providers, cable operators, mobile operators, the hospitality sector, hospitals and academic institutions.

For more information on PeerTV, log on to www.peertv.com or email info@peertv.com

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Industry:Technology, Television
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