PowerTV is near full-scale rollout with several major cable operators!
Remember, SFA is PowerTV!
PowerTV and PRASARA Technologies Complete Merger Transaction; Merger Combines Two Leading Innovators in the Interactive TV Industry
WEDNESDAY, JULY 12, 2000 11:46 AM
- PRNewswire
CUPERTINO, Calif. and ORLANDO, Fla., Jul 12, 2000 /PRNewswire via COMTEX/ -- PowerTV Inc. and PRASARA Technologies Inc. today announced that they have completed the transaction to merge their operations.
As previously announced, the combined companies plan to offer an open, end-to-end software solution for interactive television capable of running on any broadband delivery network, any server solution and any cable TV digital set-top.
The PowerTV(R) operating system is the only operating system currently on the market designed to meet the unique needs of broadband digital interactive set-tops. PowerTV's SofaSOFT(TM) suite of interactive TV services, which enables consumers to browse the Web, compose email and use other services while watching TV, is in field trials with several major cable operators in anticipation of full-scale rollouts.
"The merger of two strong pioneers with a sharp focus on interactive television creates a powerhouse combination that will benefit our customers immensely," said Steve Necessary, CEO of PowerTV. "PRASARA, with their tremendous background in interactive TV, provides an incredibly attractive set of applications and business management tools that significantly enhance cable operators' competitive position."
PRASARA has deployed interactive TV solutions such as video-on-demand; e-commerce services including pizza-on-demand, karaoke-on-demand and soon TV banking; as well as customer care and education applications, in Hawaii on Oceanic Cable and Tampa Bay and New York City on Time Warner Cable.
"We are excited to combine PowerTV and PRASARA and create an extraordinary team that is capable of delivering the promise of digital cable. Our products and services are increasing employee efficiency, enhancing cable subscriber satisfaction and producing incremental revenue from both traditional cable services as well as new interactive TV applications," said Robert Montgomery, President PRASARA Technologies.
Pursuant to the merger, the shareholders of PRASARA have become shareholders of PowerTV and PRASARA has become a wholly owned subsidiary of PowerTV. PRASARA will continue to operate out of its suburban Orlando, Fla., location.
About PRASARA
PRASARA Technologies (www.prasara.com ) provides business and technical solutions to the telecommunications industry, including development, installation, maintenance, and operation of ITV technology. In addition to its ITV Business Management Tools and VOD solutions, PRASARA has integrated a suite of interactive television applications with Scientific-Atlanta's (NYSE:SFA) Explorer(R)2000, Pioneer's Voyager and General Instrument's DCT 2000 digital set-top platforms.
Headquartered in Orlando, Fla., PRASARA principals helped to build and operate the world's first interactive television systems, including Time Warner Cable's Full Service Network. PRASARA Technologies' personnel are experts in software development, content acquisition, e-commerce, database marketing and ITV business management systems. Current deployments of PRASARA Customer Care and E-commerce applications include over 175,000 digital cable subscribers in Honolulu, Hawaii,
Tampa/St. Petersburg, Fla., and New York City, N.Y.
About PowerTV
PowerTV, Inc. (www.powertv.com ), Cupertino, Calif., is a leading developer of systems software solutions, applications and services for digital interactive cable television. The PowerTV(R) operating system -- the only operating system on the market specifically designed for the unique needs of broadband digital interactive cable set-tops -- has been selected by such leading set-top providers as Scientific-Atlanta (NYSE:SFA), Pace Micro Technology, Panasonic and Pioneer New Media Technologies for deployment by cable operators in North America, South America, Europe and the United Kingdom. PowerTV's product line also includes a middleware layer with an HTML engine and support for PersonalJava. PowerTV's SofaSOFT(TM) suite of interactive TV services, which enables consumers to browse the Web, compose email and use other services while watching TV, is in field trials with several major cable operators in anticipation of full-scale rollouts.
PowerTV and SofaSOFT are trademarks or registered trademarks of PowerTV, Inc. in the United States and in other countries.
PRASARA is a trademark of PRASARA Technologies, Inc.
All other names and trademarks are the property of their respective owners.
SOURCE PowerTV Inc.
CONTACT: David Doolittle of Ketchum Public Relations, 404-879-9266, or
david.doolittle@ketchum.com , for PowerTV, Inc., or Michelle Hildebrand of
PowerTV, Inc., 408-777-4753, or michelle@powertv.com , or
Tammy Snook of HighTech Public Relations, Inc., 407-667-9355, or
tammysnook@hightechpr.net , for PRASARA Technologies, Inc.
(SFA)
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