HSM Selects Broadcast International's CodecSys to Power New OTT Network
Broadcast International Signed a Multi-Year License Agreement With HSM Americas for BI's CodecSys Video Compression Software
Salt Lake City, Utah(17 May 2012)
Broadcast International (BI) (OCTBB: BCST), a leading provider of video management software and services for next-generation video IP networks, signed a multi-year license agreement with HSM Americas, a worldwide leader in executive education,for BI’s CodecSys video compression software. CodecSys will serve as the core platform for HSM America’s new over-the-top (OTT) network.
The agreement, will provide a new video distribution network for HSM, enabling the launch of its new World of Business Ideas (WOBI) brand and providing expanded worldwide access to its live, on-demand and web-based events and services through its WOBI Live! portal (http://www.wobilive.com).
The WOBI Live! portal has officially launched as of May 2012. Broadcast International will also provide managed services worldwide in support of HSM/WOBI’s live events, which will then be distributed over its new OTT network.
"The partnership with HSM/WOBI demonstrates the increasing traction of our CodecSys technology software platform," said Rod Tiede, CEO of Broadcast International. “CodecSys enables HSM/WOBI to deliver rich media content to anyone, on any device, at any place around the globe.”
Patricia Meier, CEO of HSM Americas, commented: "Given our long and successful history with Broadcast International with past live broadcast & web-based projects worldwide, we are eager to launch our new product: WOBI Live! with BI’s revolutionary and proven technology, along with their managed services expertise.”
About HSM/WOBI:
SM/WOBI is a multimedia company which brings together executives and thought leaders through world-class events, print media, and a 24-hour cable television network. These multimedia experiences have been brought together under a unified platform, WOBI, a World of Business Ideas – www.wobi.com , to deliver the best of Management and Leadership thinking around the world. The two focal events in the US are the renowned World Business Forum and the World Innovation Forum, both taking place in New York. The company is based in Buenos Aires, Argentina, with its US headquarters in New York.
About Broadcast International
Broadcast International is a leading provider of managed video solutions, including digital signage, OTT (Over the Top) networks, IPTV, and live/on-demand content distribution for the enterprise. BI's patented CodecSys software is a breakthrough, multi-codec video compression technology that cuts video bandwidth requirements over satellite, cable, IP and wireless networks. By slashing bandwidth needs, CodecSys enables a new generation of media applications, and offers unprecedented price/ performance benefits for existing applications such as HD video distribution.
Broadcast International is a public company (OCTBB: BCST) headquartered in Salt Lake City, UT. For more information, visit: www.brin.com and www.codecsys.com.
Forward-Looking Statements
All statements in this news release that are not based on historical fact are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (which Sections were adopted as part of the Private Securities Litigation Reform Act of 1995). While management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, many of which are outside of our control, that could cause actual results to materially differ from such statements. Such risks, uncertainties, and other factors include, but are not necessarily limited to, those set forth under the caption "Additional Factors That May Affect Our Business" in the Company's most recent Form 10-K and 10-Q filings, and amendments thereto. In addition, we operate in a highly competitive and rapidly changing environment, and new risks may arise. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results. We disclaim any intention to, and undertake no obligation to, update or revise any forward-looking statement.