LBRT,
Huge news in China's Cable (world's largest) market.
Liberate in Joint Venture to Deliver Interactive TV Platform and Services To China
Global Net Broadband, One of China's Leading Set-top Vendors, Selects Liberate For iTV in World's Largest Cable Market
GUANGZHOU, China and SAN CARLOS, Calif., Jun 18, 2001 /PRNewswire via COMTEX/ -- Liberate Technologies (Nasdaq: LBRT chart, msgs), a leading provider of software for the delivery of interactive television, today announced its investment in a joint venture with China-based Global Net Broadband, Inc. (GNI) aiming to deliver interactive software and services on GNI set-top boxes to millions of subscribers in the People's Republic of China. Financial terms of the investment were not disclosed.
(Photo:http://www.newscom.com/cgi-bin/prnh/19990630/LIBERATE )
GNI provides set-top systems to leading network operators throughout China, including an exclusive contract with one of China's largest cable operators, Guangdong Cable Radio and Television Station, with a network covering more than six million cable subscribers. Under the joint venture agreement, GNI will supply Guangdong Cable with Liberate-powered set-tops.
"China is the world's largest cable market with more than 80 million subscribers," said Martin Peng, CEO of GNI. "As one of China's leading makers of set-top systems, we looked to Liberate for the most advanced interactive solution to scale to meet the needs of our massive market and support the widest range of services for our customers."
"It is an honor to partner with a distinguished company like GNI to help them deliver the latest technologies for customers such as Guangdong Cable in the People's Republic of China," said Mitchell Kertzman, CEO of Liberate. "We believe the Chinese market will be a global leader in this exciting new industry."
The joint venture, called China New Broadband, will also develop interactive applications and services for the Liberate-powered GNI set-tops that include video on demand provisioning, home banking, stock market trading, distance learning, e-mail, Internet surfing and more.
About Liberate Technologies
Liberate Technologies is the leading provider of a complete software platform for delivering Internet-enhanced content and applications to information appliances, such as television set-top boxes and game consoles. Liberate's Internet-based client and server software allows network operators, such as telecommunications companies, cable and satellite television operators and Internet service providers to provide consumers access to network operator-branded applications and services. Headquartered in San Carlos, California, the company has sales offices in the U.S., Canada, Japan, and the U.K.
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Liberate and the Liberate design are registered trademarks of Liberate Technologies. Other product names used in association with these registered trademarks, including Liberate TV Platform, are trademarks of Liberate |
