2UP Gaming PLC agrees to acquire Streamark PLC
NEW YORK, NY. February 1, 2013 – UK based 2UP Gaming PLC (GXG:2GM), operators of a leading online gaming website www.2UP.com, has announced that they have executed an agreement to acquire Streamark PLC. The acquisition has strategic importance, as it accelerates the delivery of the 2UP “live deal” technology across multiple platforms.
“The Streamark technology gives 2UP a significant competitive advantage because of 2UP’s expanded ability to deliver a number of our live gaming products directly to mobile phones and tablets. However, the biggest advantage of Streamark is its positioning and technology within the exploding internet protocol TV (IPTV) market, and our ability to license those products,” according to Mr. Peter Flynn, 2UP’s Business Development Director.
The number of global IPTV subscribers is expected to grow from 28 million in 2009 to 83 million in 2013-- with market revenues forecast to grow from US$12 billion to $38 billion in the same period. Emerging markets such as China and India have embraced new smart phone technologies and created enormous opportunities with limited bandwidth.
“Streamark’s technology can deliver HD video streaming using as little as 2mbps, compared with 20mbps for standard broadcast or 8mbps from one of the existing top mobile streaming technologies,” said 2UP’s CEO Marino Sussich. “Emerging markets such as China and India have embraced new smart phone technologies and created enormous opportunities with limited bandwidth.”
MidOil USA’s Managing Director Vincent Crandon, who recently announced a US$75 million financing commitment for 2UP, commented that, “The Streamark technology will facilitate a seamless delivery of the 2UP gaming content, and we look forward to the platform’s initial implementation in our planned Atlantic City, NJ datacenter should the internet gaming bill presently being considered by New Jersey Governor Chris Christie be approved.”
About Streamark PLC
Streamark develops applications based on streaming video, tracking and communications technologies for mobile telecom operators, TV network and cable operators and hardware manufacturers. Its unique live video streaming technology can be used across a wide range of handsets such as Apple, Android, Symbian, Blackberry and WinMobile, running on mobile bandwidths EDGE, GPRS, to 3G and 4G. http://www.streamark.com
About 2UP
2UP Gaming PLC (GXG: 2GM) is a UK based publicly held provider of leisure and entertainment products in the gaming, wagering and lotteries segments of the gambling industry. Through www.2UP.com customers can access all gaming, wagering and lottery products from one website.
Media Contact:
Vincent Crandon MidOil USA--New York tel 201-962-2799 email:vince@midoilusa.com
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