Goldstone Tech ties up with Echelon Studios

MUMBAI: Goldstone Technologies on Tuesday said it has entered into a five-year agreement with US-based Echelon Studios to strengthen its existing library of movies and other video content.

Under the the revenue-sharing basis pact, Echelon would provide the company with over 3,500 video titles including movies, cartoons and sitcoms for its video-on-demand subscribers, the company informed the Bombay Stock Exchange,

Goldstone operates the Internet Protocol Television (IPTV) network which offers live channels and video-on-demand among other services.

Initially, the company would offer movie-on-demand along with IPTV services in India and Asia-Pacific countries like Malaysia, Singapore and Japan.

"This tie-up will give us access to huge quality video content and will definitely help us boost video-on-demand subscribers," Goldstone Technologies Chairman Nandan Kundetkar said.

The Los Angeles-based Echelon Studios acquires and distributing entertainment products like films worldwide.
   
Shares of Goldstone were trading at Rs 121, down 2.14 per cent on BSE in morning trade.