19 May 2014
mirada plc
("mirada" or "the Company")
Major contract win in Latin America
mirada plc, the AIM-quoted audio-visual interaction specialist (AIM: MIRA), is
delighted to announce that it has secured a major contract for its multiscreen
product, iris, with a large established Latin American digital TV operator.
This contract follows the successful USD $1.4 million trial previously
announced on 7 November 2013.
The Company expects the customer to start the commercial roll out before the
end of 2014. The contract is expected to generate significant revenues,
starting in the second half of the financial year, which the Directors believe
should far exceed mirada's yearly turnover over the next three to five years.
The customer has an installed subscriber base of several million users, which
will be targeted as mirada aims to grow its subscriber-based licence fees.
The Directors believe that winning this multi-million dollar contract will
further strengthen mirada's reputation in the industry, particularly in South
America, and serve a as reference point for discussions with other broadcasters
and operators.
One of the key benefits of mirada's product is the Inspire solution, which is
part of the iris ecosystem. This includes an advanced user interface, named
inspire, which relies on features like smart search engine, audience metrics
and recommendation systems, advertisement component, multiscreen platform with
apps for smartphones and tablets. As a part of the agreement, other major
advanced features will be released in the future.
Commenting, Jose Luis Vazquez, Chief Executive Officer, said:
"This represents our biggest contract to date and is a significant milestone in
the Company's development in the Latin American region. It highlights the
importance of our strategic shift to a scalable subscriber-based licence fee
model."
"The Company continues to explore a number of exciting opportunities with a
view to building on today's success. We look forward to providing further
updates in due course."
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Enquiries:
mirada plc +44 (0) 207 549 5678
Jose Luis Vazquez, Chief Executive Officer
Walbrook PR +44 (0) 207 933 8780
Nick Rome/Sam Allen
mirada@walbrookpr.com
Cantor Fitzgerald Europe (Nominated Advisor & Broker) +44 (0) 207 894 7000
Mark Percy (Corporate Finance)
David Banks (Corporate Broking)
Peterhouse Corporate Finance (Joint Broker) +44 (0) 207 469 0937
Jon Levinson/Lucy Williams
About mirada
mirada creates and manages services for digital TV platforms and broadcasters
which enable consumers to interact with and purchase digital content on
television, mobile, online and bespoke devices. mirada's products and solutions
are used worldwide to deliver interactive TV, Video on Demand, digital
marketing and payment services. Its products and services have been deployed by
some of the biggest names in digital media and broadcasting including Sky,
Virgin Media, BBC, ITV, France Telecom and Telefónica. Headquartered in London,
mirada has commercial offices across Europe and Latin America and operates
technical centres in the UK and Spain. For more information, visit
www.mirada.tv.