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Tag: consortium

  • MPAA, RIAA join consortium to study digital technologies

    MUMBAI: Internet2, an advanced networking consortium in the US which is led by the research and higher education community has announced that the Motion Picture Association of America (MPAA) and the Recording Industry Association of America (RIAA) have joined it as corporate members.

    The two industry associations plan to
    collaborate with the Internet2 community to consider innovative content distribution and digital rights management technologies, and to study emerging trends on high-performance networks to enable future business models.
     
     

    RIAA president Cary Sherman said, “Internet2 networking is an incredibly exciting tool for researchers, technologists and many others interested in developing new technologies, policies and business models for the next generation. Its value now and potential in the future are extraordinary, and we are very pleased to join this diverse community.

    “We look forward to collaborative work with a broad spectrum of Internet2’s members to
    develop new technologies that will enable us to produce and distribute digital content over next generation networks in ways that protect and enhance the value of creative works.”
     
     

    One of the prime values of the advanced network infrastructure the Internet2 community has deployed is that it represents the leading-edge of Internet technology and therefore provides a window into the potential of the future of the Internet. Internet2 provides MPAA and RIAA with a testbed for examining future networking and secure distribution capabilities not possible on today’s commercial Internet.

    The associations are reviewing the working groups and special interest groups within the Internet2 framework to determine the best opportunities for collaboration.

    MPAA president Daniel Glickman said, “The movie industry is committed to working with the technology sector to find innovative new ways to deliver entertainment to consumers. The MPAA views this partnership with Internet2 as an important opportunity for collaboration as we seek to link new delivery models with content protection. The MPAA and its member companies have a wide-range of expertise in both areas, and I believe we can add a positive, constructive perspective to the excellent work of Internet2.”

    Internet2 president and CEO Douglas Van Houweling said, “Internet2 provides the MPAA and the RIAA with unique access to the research and education community, which shares their interest in developing secure leading-
    edge content distribution technologies. Together with the RIAA and MPAA, the Internet2 community is leading the way in helping to shape new business models for the future of the music and movie industries as consumers and businesses alike continue to rapidly adopt Internet technologies to receive these
    products and services.”
     

  • Hinditron-led consortium to bid for IPTV network projects

    MUMBAI: A group of global companies have formed a consortium led by Mumbai-based Hinditron Services Pvt Ltd. to provide telecom companies turnkey solutions for IPTV (Internet Protocol television).

    The consortium includes SeaChange International, Widevine, Harmonic, Amino Communications, Espial and On Demand Group. The content delivery network (CDN) would include set-top boxes (STBs), headend and security systems.

    “We have got together with several leading companies and will be bidding jointly for CDN projects,” says KV Seshasayee, advisor to Hinditron Services.

    The consortium has bid for VSNL which is planning to roll out its IPTV services. “We will be bidding for other fresh tenders including the one floated by MTNL,” says Seshasayee.

    Hinditron provides complete solutions to clients in a broad spectrum of industries in India and abroad, including information technology, instrumentation, telecommunication products, video and broadband, software products and services.

    US-based SeaChange will provide the IP video servers, storage and middleware. SeaChange’s technology is used by major companies including Comcast. It provides digital video systems that enable broadband, broadcast and satellite television companies to provide on-demand services.

    The digital STBs will be provided by UK-based Amino and is used worldwide by telecom service providers for broadband TV deployment. For conditional access and digital rights management solution, the consortium has roped in US-based Widevine. This content security solution for IPTV will enable telcos to offer secure distribution of digital broadcast and video content.

    The headend solutions will be provided by Harmonic while the client side software for STBs will be from Espial.

    ON Demand Group (ODG) will provide the content procurement, aggregation and management support. “The global consortium has been working in Brazil for Telefonica. Hinditron has formed a part of it in India,” says Seshasayee. Big telecom operators in India are planning to enter into triple play by providing voice, video and data services.

  • Intelsat’s ORBIT act amendment becomes law

    Intelsat’s ORBIT act amendment becomes law

    MUMBAI: Intelsat has announced that, as on 25 October 2004, an amendment to the open-market reorganisation for the betterment of International telecommunications act (ORBIT act) became law.

    The act had previously required Intelsat to dilute the ownership interests of its former signatories through an initial public offering (IPO).

    According to a company release, the amendment permits Intelsat to comply with the dilution objectives of the ORBIT Act by means other than an IPO.

    Speaking on the development, Intelsat CEO Conny Kullman said, “This change in the law was a wise decision by Congress, ensuring that a stated purpose of the ORBIT act is achieved while at the same time allowing us the flexibility to determine the form of transaction that is most appropriate for our company. Intelsat’s acquisition by the private equity consortium backing Zeus Holdings Limited is expected to be complete within a few months, after which we believe our company will have fully satisfied the requirements of the ORBIT act.”

    “If the FCC determines that we have met the criteria set forth in the amended ORBIT Act, we will no longer expect to face ORBIT-related licensing restrictions, allowing us the freedom to sell and develop our services, including DTH. This will put Intelsat on a more level playing field with our competitors while offering customers more high-quality choices when procuring DTH platforms, ” he added in the released.

  • Intelsat to be acquired by consortium of private investors

    Intelsat to be acquired by consortium of private investors

    MUMBAI: Intelsat, today, announced the signing of a definitive agreement that provides for the amalgamation under Bermuda law of Intelsat and a subsidiary of Zeus Holdings Limited (Zeus).

    Zeus is a company formed by a consortium of funds advised by Apax Partners, Apollo Management, Madison Dearborn Partners and Permira.

    At closing, Zeus will be acquiring the global satellite communications leader providing services in over 200 countries and territories- Intelsat.

    Intelsat’s current shareholders generally will be entitled to receive $18.75 for each Intelsat share issued and outstanding immediately prior to closing, subject to adjustment in a specified circumstance, says a company release.

    The total value of the transaction, including approximately $2 billion of existing net debt, is approximately $5 billion. The transaction was approved unanimously by the Intelsat’s board of directors.

    “This transaction comes at a time when Intelsat is successfully executing on its strategies for market leadership in the fixed satellite services sector. We believe that the acquisition of Intelsat by this consortium of well-respected private equity investors represents the best opportunity for Intelsat to achieve its strategic goals,” said Intelsat, chief executive officer Conny Kullman.

    “Once completed, this transaction will both satisfy our shareholders’ interest in a strong valuation and allow shareholders to monetise their investments. At the same time, the deal will align Intelsat’s future with a force that can make our vision for continued leadership a reality,” he added.

    Says to the consortium representative, “Our consortium is very pleased to begin a partnership with Intelsat, a global leader in the fixed satellite services sector. Intelsat’s healthy, young and flexible satellite fleet, seasoned management team, strong brand and solid backlog of long-term contracts create a very attractive investment opportunity,”

    “As Intelsat enters its next stage of strategic development, its operational strength, stable, diversified revenue base and global market presence offer the company a variety of exciting organic and strategic growth opportunities, and the consortium will provide the financial and strategic support Intelsat needs to capitalise on these opportunities,” the representative added.

    At closing, all of the existing service commitments between Intelsat and its customers, including those dating from the privatisation in 2001, will remain in force.

    “Intelsat and members of the consortium understand that strong and stable media, communications, corporate and government customers are the lifeblood of Intelsat’s business. Although the satellite industry continues to evolve, our commitment to our customers, including continuing to deliver the ‘gold standard’ in satellite services, remains unchanged,” informed Kullman.

    Required approval of shareholders holding 60 per cent of Intelsat’s outstanding shares will be sought in a general meeting of shareholders expected to be held later this year, adds the release.

    Zeus intends to finance the transaction in part with debt that, after giving effect to the transaction and consistent with the terms of Intelsat’s existing indebtedness, will be at the Intelsat (Bermuda), ltd level.

    The security expected to be granted in connection with this new debt will be in compliance with the terms of Intelsat’s existing indebtedness and is not expected to result in the grant of security to the company’s existing senior notes.

    Merrill Lynch and Morgan Stanley are acting as financial advisors to Intelsat, ltd in connection with the transaction. Credit Suisse First Boston, Goldman, Sachs & co and Lehman Brothers Inc are acting as financial advisors to the consortium in connection with the transaction. The new debt financing will be led by Deutsche Bank Securities Inc., Credit Suisse First Boston and Lehman Brothers Inc, adds the release.