Mirada wins new contract for Iris multiscreen product
AIM-listed Mirada, which provides integrated software solutions for digital TV operators and broadcasters, has won a new contract for its Iris multiscreen product.
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The contract is with Nasdaq-listed ATN International, which operates in several US and Caribbean locations under various trade names. It will see Mirada provide products and services to four different Caribbean operators owned by ATNi located in the US Virgin Islands, Bermuda, the Cayman Islands and French Guyana.
Mirada will deploy its complete suite of Iris multiscreen products, including its over-the-top solution and back-end platform, Iris SDP, across these networks. The commercial launch and subsequent commercial deployment is expected to occur towards the end of Mirada's current financial year.
The company said this will be the most extensive launch of Iris since the commercial launch for izzi Telecom in Mexico and is the result of an increased focus on Mirada's sales and marketing activities. It will provide Mirada with different revenue streams, structured so that Mirada will receive various recurrent monthly fees as well as fixed fees for professional services at the start of the contract and on an ongoing basis.
Chief executive officer José Luis Vázquez said: "We are delighted to announce the latest project for our Iris multiscreen solution, especially for such a prestigious company as ATNi. This contract demonstrates the successful execution of Mirada's growing pipeline of international opportunities following the deployment of Iris in Mexico and the company's strategy to increase competitiveness by diversifying revenue streams into deployment models that also include relevant recurrent subscriber-based licence revenues. We are also confident that Mirada's technology will continue to attract the interest of other operators in the near future."
At 1110 BST, the shares were down 4.1% to 1.15p.