Bambuser signs contract with Sky News Arabia
Bambuser AB (publ) ("Bambuser" or "the Company") has signed a one year contract with Sky News Arabia, the news and current affairs channel.
Bambuser has signed a one-year agreement, with the possibility of extending for an additional year, with Sky News Arabia, regarding the Company’s product Iris Dev. The value of the subscription agreement is modest, with the possibility of additional variable revenue based on usage. The agreement will be made effective from November 2017.
Sky News Arabia is a joint venture between UK-based Sky plc and Abu Dhabi Media Investment Corporation (ADMIC). Sky News Arabia is based in Abu Dhabi and has a network of bureaux across MENA, along with offices in London and Washington, DC. It also shares access to Sky News' wider international bureaux network.
Iris Dev enables news and media companies to easily and cost-efficiently increase their video inventory by facilitating the acquisition of user-generated content directly from their viewers and app users around the world.
"We are very happy to sign with such a renowned brand within the news media industry. We know that our offering for the media vertical is strong and Sky News Arabia is the perfect candidate for our Iris Dev solution.”, says Hans Eriksson, CEO of Bambuser.
This information is information that Bambuser AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was sent for publication, through the agency of the contact persons set out below, on October 16 2017, 10:45 CET.
Västra Hamnen Corporate Finance is Certified Advisor (CA) to Bambuser AB (publ).
Hans Eriksson, CEO
Mobile: +46 (0)768-822 502
Bambuser is a Swedish software company that offers B2B solutions for live video. Since 2007, the Company has developed a platform for interactive live video broadcasts enabling live video streaming from mobile phones and webcams to the internet. The breakthrough occurred in 2010 when the Company's service was used to report the unrest in Egypt during the parliamentary elections. The following year, videos were produced via Bambuser and used in several television broadcasts throughout the world during the Arab Spring. Today, Bambuser’s service is installed in more than 50 million phones and has over the years reached 100s of millions of news consumers through companies like CNN, BBC, Al Jazeera, SkyNews, etc. Since 2014, Bambuser has chosen to focus on B2B, Business-to-Business, to increase the spread of the Company's products and strengthen its long-term revenue potential. Among the customers are such companies as Associated Press, Aftonbladet, NRK and Deutsche Welle.