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OpenTV Secures $31.25 Million Investment from Internet and Broadcast Giants

Strategic Insights

— 1 min read

OpenTV, the world leader in digital interactive television software, has announced a significant investment of $31.25 million from a consortium of leading broadcast, broadband, and Internet companies. This funding will enable OpenTV to expand its presence in the US market and develop new interactive applications for its platform. The investment group, coordinated by Liberty Digital, includes America Online, General Instrument Corporation, Liberty Digital, News Corporation, and Time Warner, in addition to existing investor Sun Microsystems. This deal represents a major milestone for OpenTV, which has already shipped its set-top box software with over 4.3 million digital set-top boxes worldwide.

Key Takeaways:

  • OpenTV has secured a $31.25 million investment from a consortium of six leading broadcast, broadband, and Internet companies.
  • The investment group, coordinated by Liberty Digital, includes America Online, General Instrument Corporation, Liberty Digital, News Corporation, and Time Warner, in addition to existing investor Sun Microsystems.
  • OpenTV will use the proceeds to fund the development of its growing applications business, which will enable networks to provide enhanced programming, personal communications services, "t-commerce," and interactive advertising.
  • The company will continue to develop its set-top box software business and expand its worldwide sales and marketing efforts.
  • OpenTV has shipped its set-top box software with over 4.3 million digital set-top boxes worldwide.
  • The company's software solutions have been deployed by 13 television networks worldwide, including British Sky Broadcasting (BSkyB) in the United Kingdom and TPS in France.

Statistics:

  • $31.25 million: The amount invested by the consortium of six leading broadcast, broadband, and Internet companies.
  • 4.3 million: The number of digital set-top boxes worldwide that have shipped with OpenTV's set-top box software.
  • 13: The number of television networks worldwide that have deployed OpenTV's software solutions.
  • US: The country where EchoStar's DISH Network is scheduled to launch interactive services utilizing OpenTV software early next year.

Sources:

  • Business Wire, "OpenTV Secures $31.25 Million Investment from Leading Broadcast, Broadband, and Internet Companies" (October 24, 1999)
  • OpenTV press release, "OpenTV Secures $31.25 Million Investment from Leading Broadcast, Broadband, and Internet Companies" (October 24, 1999)

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