Liberate, Cable & Wireless Unveil Service
Wednesday November 10 12:39 PM ET
SAN CARLOS, Calif. (Reuters) - Internet software maker Liberate Technologies (Nasdaq:LBRT - news) Inc. on Wednesday said it agreed with British-based cable television operator Cable & Wireless Plc to create a two-way television service.
Shares of San Carlos, Calif.-based Liberate climbed 25 points on the news to 104 on Nasdaq.
The service uses Liberate software to give Cable & Wireless cable TV subscribers services like home shopping, financial information and e-mail via the Internet and their TV.
The service uses Liberate TV Navigator and Liberate Connect software. Cable and Wireless Communications, the division responsible for the service, has recruited premier content partners for specialized programming, including Barclay's bank, British Airways Plc (NYSE:BAB - news) and ABC Connect, among others.
Third-party developers such as Two Way TV, a company involved in interactive gaming, are developing applications to offer on Cable & Wireless's system.
Cable & Wireless Communications Plc (NYSE:CWZ - news) is the largest provider of integrated telecommunications and television entertainment services in the United Kingdom.
Liberate, founded in 1996, became public just this past July in an initial public offering of stock priced at $16 a share. Since then, its shares have risen sharply based on the promise its software holds in gaining access to cable TV systems and new digital set-top boxes.
Investors in Liberate include the likes of America Online Inc (NYSE:AOL - news)., cable TV companies Comcast Corp (Nasdaq:CMCSA - news), Cox Communications Inc (NYSE:COX - news). and computer giants like Oracle Corp (Nasdaq:ORCL - news). and Sun Microsystems .
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