Mavshack's subsidiary 24hTech signs an agreement to develop and operate a tailor-made OTT SVOD service for new player in the Nordic market. 24hTech has over the years developed its own world-class platform with the most well-known providers in the market (eg Akamai, Amazon and Google). It has now resulted in the company having a sought after product that stands well in competition in the market.
"I am delighted that the team's fine work for this store we secured in tough international competition. The goal has always been to acquire more business for all of the Group's units, "said Tommy Carlstedt, CEO of Mavshack.
24hTech has a unique potential with expertise, experience and technical solution developed by the company. This deal is significant in such a way that it is the first of its kind for the company. " The agreement extends over 36 months with a mutual option for an extension of 24 months. The customer, HomeTV.se (Horse Creek Productions AB), has the ambition to become a prominent OTT SVOD service in the Nordic region with a wide range of high quality international films. HomeTV.se currently has rights for more than 3000 titles for customers in the Nordic region and the service will be launched in Q4-2017.
September 18th, 2017
For more information please contact
CEO Tommy Carlstedt, Phone +46 8 12451790
This information is information that Mavshack AB (publ) is obliged to make public pursuant to the EU Market Ab use Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 09:45 CET on September 18th, 2017.
About Mavshack AB
Mavshack operates a global Internet TV services with Asian entertainment. The service, which is available through Internet connected devices, is genuinely global with users in over 80 countries. With the largest library of Filipino and Indian titles, as well as agreements with Asia's leading content providers, Mavshack is the obvious choice for Asian entertainment around the world. The company operates its business on a proprietary technology platform.
Mavshack AB (publ) is a publicly traded company listed on Nasdaq First North under the ticker MAV. Certified adviser is Erik Penser Bank. More information about the company is available at www.mavshack.se