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UTStarcom Holdings Corp. (UTSI) Launches ITV In Spain

|Includes: UTStarcom, Inc. (UTSI)

UTStarcom recently announced that will be teaming with partner iTV Media to deploy video-on-demand (NASDAQ:VOD) services in Spain this month. This will be accomplished via partnership with Mira TV. UTStarcom is the single largest shareholder of iTV, having invested in the company during 2010.

Based in Beijing, China, UTStarcom is focused on marketing TV-over-IP services and products. During 2011, UTStarcom deployed a revamped growth strategy that concentrates on providing media operation support services, and sells its media operational support services and broadband equipment products and services to operators in both emerging and established broadband and cable markets around the world. The company has offices in Beijing, China, and research and development operations in China and India.

Mira TV, a prominent over-the-top IPTV provider in Spain, supplies more than 200 channels on demand with more than 5,000 hours of VOD content. iTV will have access to over 200,000 subscribers by the summer of 2014, with the rollout of services in Spain.

William Wong, UTStarcom's CEO, said, "This is another important milestone in iTV Media's growth. It is also the second major agreement for iTV Media in two months, making it indicative of the solid demand the business is seeing in the international marketplace. Most importantly, this agreement is also another excellent example of how UTStarcom will partner with our broadband and cable customers to enhance the loyalty of their customer base by delivering the value-added media services and products that consumers are increasingly demanding in today's market. We wish iTV Media and Mira TV success in their newest venture, and will continue to aggressively support iTV Media by working closely with its management team to find opportunities to continue to grow."

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