SOURCE: Tivus, Inc.
OMAHA, NE–(Marketwire – November 23, 2010) – Tivus, Inc. (
“The Vestel agreement provides Tivus a dependable supply of customized, top-quality high-definition televisions (HDTV),” commented Shiva Prakash, Tivus’ president and chief executive officer. “Tivus’ strategic agreement with Vestel provides a critical part in our supply chain and ensures continuous, successful deployments of Tivus’ innovative hotel HD IPTV and advertising platform.”
With USD $5.1 billion in annual sales, Vestel Group is a leading European electronics and appliance manufacturer exporting to over 100 countries, and sets the world’s standard with its array of products ranging from televisions, set-top boxes, and durable goods, to air conditioners and computers. Today, Vestel televisions alone account for over 21% of the total European market.
“We have passed several decisive milestones in the execution of our business plan. Significantly, initiatives establishing dependable hardware suppliers, identifying traditional financing partners, engaging professional management, and courting new hotel customers are all coalescing and rapidly growing Tivus into a more mature company. In the near future, I expect to be advising shareholders in more detail about these achievements as well as Tivus’ future course,” Prakash concluded.
About Vestel Group
Vestel Group is comprised of 24 companies operating in manufacturing, technology development, marketing, and distribution fields in the consumer electronics, IT, digital technologies, and household appliances markets, with EUR 3.7 billion in annual sales. Vestel’s market share accounts for 21% of the total TV, 10% of the total LCD TV, 25% of the total digital set-top box, and 10% of the total household appliance markets in Europe. For more information, please visit www.vestel.com.
About Tivus, Inc.
Tivus, Inc. is a technology entertainment services company that provides internet-based TV and Cable programming, interactive game content, and goods & services to the hotel/hospitality industry. Using onsite hardware and software, including flat-screen HD televisions, Tivus’ unique IPTV hotel entertainment system is a complete, multifaceted entertainment platform that, for the first time in the industry, generates previously untapped income to the hotel through ad revenue sharing. For more information, please visit www.tivus.com.
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