Optibase to supply video compression solutions to Greek co

Market sources estimate the contract at about $1 million.

Optibase Ltd. (Nasdaq: OBAS) will supply IPTV equipment to new Greek IPTV provider ON Telecoms for the delivery of local and satellite television channels to its subscribers. Optibase is supplying it with the MGW 5100 streaming platform, which compresses and broadcasts video via broadband. The company did not disclose the size of the deal, but market sources estimate it at about $1 million.

On Telecoms is fully owned by ON Network Holdings NV. Some of ON Network’s managers participated in a Fast Web project in Italy, for which Optibase provided IPTV systems. ON Telecoms plans to become the leading alternative telecom operator providing voice, broadband and value added services in Greece addressing both residential and business customers.

Earlier this year, ON Telecoms selected BitBand Inc.’s ISIS Solution for the deployment of the first IPTV services in Greece. The company is the first to deploy the ISIS Solution.

Published by Globes [online], Israel business news - www.globes.co.il - on March 12, 2007

© Copyright of Globes Publisher Itonut (1983) Ltd. 2007

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