Hello Pat (& All)
I know that you have had some 'experience' with companies that issue warrants for business...(aka Rogers / Shaw communications & TERN )...what is your general feeling about this strategy - does it work in the long run? OPTV seems to be kicking our butts lately, and I found the bit below (released in Dec.) interesting:
(GIC) General Instrument and OpenTV Sign Agreements to Accelerate Deployment of Interactive
Television Applications
THURSDAY, DECEMBER 16, 1999 9:15 AM
- BusinessWire
LOS ANGELES, Dec 16, 1999 (BUSINESS WIRE) -- General Instrument Corp. (NYSE:GIC) (GI), the worldwide leader for deployment of
advanced digital cable networks, and OpenTV(R), Inc. (Nasdaq:OPTV)(AEX:OPTV), the leading worldwide provider of software that enables
digital interactive television, today announced their agreement to port OpenTV software to GI's DCT 2000 interactive digital set-top terminal
and to jointly market OpenTV's software solutions to digital cable operators worldwide.
OpenTV will offer its leading edge, multi-application software solution for the DCT 2000, thereby providing GI's digital cable customers with
a wide variety of interactive services for television on the most widely deployed interactive digital cable set-top consumer terminal in U.S.
homes today. These new interactive television services range from enhanced television, e-mail and Internet on TV (ITV) to e-commerce,
TV-chat, games and video on demand. As well, OpenTV will be providing applications with a common "look and feel" on both the DCT 2000
and DCT 5000+ platforms, offering an efficient and cost effective opportunity for U.S. MSOs to launch tiered ITV services now.
"OpenTV's proven, stable and flexible ITV software can provide a rich feature offering to broadband network operators deploying GI
interactive digital systems," said Dave Robinson, senior vice president and general manager of the Digital Network Systems business unit
at General Instrument.
"OpenTV's middleware platform can satisfy and exceed cable customers' desire for exciting ITV applications and further demonstrates our
continued commitment to an `open' digital network environment. Ultimately, we anticipate that these new ITV applications will increase
customer demand and grow the market for interactive digital set-top terminals."
In addition to the porting initiative, GI and OpenTV have agreed to participate in joint sales and marketing activities for the North American
and international cable markets. Moreover, OpenTV will participate in GI's Horizon Developers Program by providing OpenTV authoring
tools, training and customer support.
"Teaming with an industry leader such as General Instrument highlights the broad success and market acceptance that OpenTV has
achieved in delivering compelling and `open' interactive television software solutions worldwide," said Jan Steenkamp, OpenTV president
and chief executive.
"This important new alliance significantly strengthens our position as we bring OpenTV to the U.S. market, providing cable subscribers
with an exciting television experience."
The agreement announced today extends GI's recent equity investment in OpenTV by including a warrant transaction providing for the potential issuance of up to 700,000 shares of OpenTV's common stock to GI. The first 25 percent of these warrants are currently exercisable by GI. OpenTV expects to incur non-cash accounting charges in connection with the vesting of these warrants.
About General Instrument Corp. General Instrument is a leading worldwide provider of integrated and interactive broadband access
solutions, teaming with its business partners to lead the convergence of the Internet, telecommunications and video entertainment
industries. For more information about GI and its products and services, visit Web site www.gi.com.
About OpenTV OpenTV is the leading worldwide provider of software that enables digital interactive television. OpenTV provides a complete
end-to-end solution for the development and delivery of interactive services via digital satellite, cable and terrestrial broadcast. OpenTV
set-top terminal software has been shipped with or installed in more than 4.5 million digital set-top terminals worldwide. To date, OpenTV
software solutions have been selected by 23 television networks worldwide, including digital satellite operators British Sky Broadcasting
(BSkyB) in the United Kingdom, Television Par Satellite in France and EchoStar's DISH Network(TM) -- which is scheduled to launch
interactive services utilizing OpenTV software in the United States in early 2000 -- and digital cable operators France Telecom Cable in
France, TeleDanmark Kabel-TV AB in Denmark and Casema Kabel Televisie in the Netherlands.
The OpenTV set-top terminal software is licensed to more than 20 digital set-top terminal manufacturers, and OpenTV's authoring tools are
licensed to more than 100 independent developers and content and service providers. OpenTV is a member of the Digital Video
Broadcasting (DVB) project, CableLabs OpenCable initiative, ATSC DASE, and JavaTV. OpenTV is a licensee of Personal Java(TM) from
Sun Microsystems.
OpenTV is supported by investments from eight leading Internet, broadcast and broadband companies including America Online
(NYSE:AOL), General Instrument (NYSE:GIC), Liberty Digital (Nasdaq:LDIG), News Corp. (NYSE:NWS), Time Warner (NYSE:TWX),
Shaw Communications (NYSE:SJR), Sun Microsystems (NYSE:SUNW) and MIH Limited (Nasdaq:MIHL).
Worldwide headquarters for OpenTV is located in Mountain View, Calif., with European operations in Paris, France, and offices in Seoul,
South Korea; Beijing, China; Tokyo, Japan; and Sydney, Australia. Information about OpenTV is available at www.opentv.com.
Copyright (C) 1999 Business Wire. All rights reserved. |
