The company has announced commercial operations of its IPTV services in Thailand in partnership with Synap Media & Infotech Co Ltd.
Will pump $25 m into overseas ops
MUMBAI: Hyderabad-based mid-cap IT services provider Goldstone Technologies expects internet protocol TV (IPTV) to fuel growth as it lines up a $25 million of investment for its international operations.
IPTV holds promise as it makes possible services like video-on-demand and access to TV shows offline, which are not available through existing cable and direct-to-home setups.
The company has announced commercial operations of its IPTV services in Thailand in partnership with Synap Media & Infotech Co Ltd. It looks at the non-resident Indians as prospective subscribers for the IPTV services.
Goldstone group chairman Nandan Kundetkar told DNA Money, “We are going to invest $25 million over a period of a year and a half and would achieve our target of 75,000 subscribers by the end of 2009.”
‘The process of raising the money is already underway,’ Kundetkar said.
“By June we shall extend our services to 10 countries,” said Kundetkar. The company has already signed distribution agreements for France, Belgium, Spain, Morocco and Malaysia.
Goldstone has set up two network operating centres at Taiwan and Denmark and currently offers live streaming of 20 TV channels, along with movies in Hindi, English and several Indian regional languages.
The company is also looking to expand services in the domestic market. It will launch IPTV services in Hyderabad as a franchisee to telecom company BSNL by March-end. It will set up the services on BSNL’s broadband network, arrange for content and conduct joint marketing.
N K Rawal, CEO, Goldstone group said, “The test for the IPTV services is nearing completion and soon after we would commercially launch the services.”
t_amit@dnaindia.net
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