Mirada soars on Bolivian multi-screen tech launch

Mirada's shares soared on Tuesday after the launch of its Iris multi-screen solution for its previously announced multi-year contract with Bolivian operator Digital TV Cable.

The commercial launch follows a contract win from October 2017 and will see Digital TV Cable's subscribers gaining the ability to watch live and on-demand content across devices such as set-top boxes, smartphones, tablets, computers and smart TVs, which Digital TV Cable hopes will provide it with a competitive advantage over its competitors.

Edmund Daher, president of Digital TV Cable, said: "We are delighted to launch Mirada's Iris multiscreen solution across our network, which will allow our subscribers to access a multitude of new features across their devices, creating a seamless user experience. Access to Mirada's superior data intelligence platform will also give us the tools to properly analyse the way our content is consumed, such that we are better able to give our customers what they want, when they want it."

AIM traded Mirada is making its technology available under a five-year contract based on its Software as a Service (SaaS) model, which is structured so that it will receive long-term recurring revenue streams from the targeted 1m subscribers in Bolivia.

In addition to initial set-up fees, Mirada will also receive monthly revenues from subscriber-based license fees and the potential ongoing deployment of new features and services.

José Luis Vázquez, chief executive of Mirada, said: "It is with great pleasure that we announce the commercial launch of our Iris multiscreen solution with Digital TV Cable. The continuing rapid growth of the Bolivian TV market and the potential for increased subscribers makes this a very exciting project for Mirada and represents another high-profile endorsement of our technology."

Mirada's shares were up 13.60% at 0.71p at 1128 BST.