An Irish mobile software company has struck a deal worth in excess of US$2m to supply its mobile TV software to a telecoms company controlled by a prominent member of the Kuwaiti Royal Family.
AIM-listed Vimio will provide a software licence to specialist telecoms company Noutique.
The licence will give Noutique the right to use Vimio’s Live TV software to enable mobile phone subscribers in Kuwait to access a range of live content.
It is understood that Noutique plans to roll out its services internationally through a number of closely associated mobile network operators in the region by offering a broader range of content.
Under the terms of the deal, Vimio will receive licence fees worth US$2m as well as a share of revenues arising from subscribers accessing Vimio-enabled content.
“Signing up our Live TV offering with a major player in Kuwait is clearly good news,” said Vimio chairman David McKenna.
“This offers plenty of scope for our systems to be made available to an increasing number of users throughout the Middle East,” McKenna added.
By John Kennedy