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PeerTV confirms new development capital

LONDON - Aug. 18, 2014 - PRLog -- PeerTV, the TV over the internet (OTT) technology solutions provider, announced on 30 July 2014 that it has successfully agreed new equity facilities of £1.5 million which will finance the continuing development and sales drive for its latest breed of Android powered quad core set top boxes, which now include market leading H265 High Efficiency Video Coding.

The AIM listed company is already active in the US, Irish, Polish and Russian markets, where it is the technology partner for a number of OTT content partners delivering successful subscription based models.

PeerTV (http://www.peertv.com/) was one of the first companies in the market to launch an Android based OTT set top box (http://www.peertv.com/#!become-a-partner/cfvg) 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.

The new funding will take the form of an equity facility of up to £1.5 million under the terms of a standby equity distribution agreement or SEDA.

Commenting on this latest development, CEO Avi Vermus said, “We believe that this new equity facility is a vote of confidence in our recent rapid progress. Our Android set top boxes now offer quad core processing and H265 compression, , which means they deliver higher quality picture and sound to users, but use less than half the bandwidth  required by the previous generations of set top boxes.”

PeerTV announced today that it will be attending the IBC expo (http://www.ibc.org/) in Amsterdam in September, where it will display a fully working example of its latest breed of OTT set top box on stand 4.74A.

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

Gy Stephenson

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Location:London City - London, Greater - United Kingdom
Industry:Internet, Television
Tags:Ott Tv, Internet Tv, Ott Video, Tv Over Internet
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