USA Video Interactive Signs Pair Of Far East Deals
By Jack Burney
Published by OTCNN.com
09/27/2000 09:40 AM EST
USA Video Interactive (OTCBB: USVO; CDNX: US) no sooner received the nod from a Chinese info-tech firm to provide 50 Hurricane Mediacaster Servers plus video technology and expertise in a 2-year, $1 million deal, than it inked a 3-way pact with two other firms to bring streaming video and video-on-demand to HKNet's customers in Hong Kong and elsewhere in the Asia Pacific region.
USVO stock fell off its $3.4688 high of a week ago to close Tuesday at $2.6875 on a 168,700 share volume.
USA Video has signed an agreement with HKNet, a joint venture between NTT Communications Corporation (NYSE: NTT) of Japan and CCT Telecom Holdings Ltd. (SEHK: 0138) of Hong Kong, to work together to bring streaming video and video-on-demand to HKNet's customers in Hong Kong and elsewhere in the Asia Pacific region.
HKNet is one of the largest ISPs in Hong Kong with some 400,000 Internet subscribers. It recently unveiled its high-speed broadband service, premium Digital Business Data Center, and now plans to incorporate the USA Video Interactive patented streaming video and video-on-demand technologies into that service.
USA Video Interactive will become a technology partner of HKNet and the two companies will collaborate on marketing and other services in areas where HKNet and its parent companies have a presence. The companies will jointly develop and market new applications of their technologies, particularly in the area of wireless delivery of Internet video.
“Partnering with HKNet brings us great opportunities in Hong Kong and beyond, and we are particularly happy to be working with a company with a very clear vision and strategy for expanding in the Asia Pacific region,” said Edwin Molina, USVO President. “Our relationship with HKNet has developed over many months and now is bearing fruit for both companies as we formally begin working together on a number of exciting projects.”
USA Video was selected by T.W. SVOD Information and Technology Co., Ltd. of Shenzheng, China to provide at least 50 Hurricane Mediacaster servers.
The initial order has been delivered and technicians from USA Video Interactive spent a week in China demonstrating the system and its capabilities.
The contract also provides that USA Video will license its patents to SVOD and the companies will develop revenue sharing agreements for the servers and with digitized content, advertising and other materials installed on or streamed through the servers in coming months and years.
SVOD is the sole supplier of video-on-demand systems to more than 60 clients and says it already has expressions of interest from 30 universities and 30 hotels for the USVO syztems. SVOD thinks the systems will likely also be installed at several popular karaoke clubs in major cities on the Chinese mainland.
“This deployment in China is a very important part of our international expansion,” said Molina.
Back in the US, USVO named Chief Information Officer Kent Norton to be Chief Technology Officer in addition to his current duties. Norton replaces Ronald Patton, who remains in an advisory capacity with the company.
Kent's overall knowledge is needed,” said Molina, “to meet customer demands. He is bringing on additional technical specialists to ensure that we always stay ahead of the curve technologically while delivering on our commitments to clients here in North America and internationally.”
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