2008-07-01 12:23:04 -
The Scaent Group entered the IT business of Ocean Blue Software Ltd. after acquiring a 10% stake in the company. London, the United Kingdom, 30 June 2008 -
Ocean Blue is an innovatory technology company and a leading provider of high quality and world-class software solutions, software engineering services and business and technology solutions for the Digital Home, Digital TV, Mobile TV and Digital Video Broadcasting markets. With partners like Toshiba, Sharp and Philips, Ocean Blue's software solutions help solve
many of the toughest technology challenges facing today's TV broadcasters and television / digital set top box manufacturers. The company is also currently working on a number of World firsts in software development, including the new Pay Per View (PPV) software standard for Digital televisions, developed by a Consortium of Sony, Philips, Samsung & SmarDTV and Panasonic.
Kenneth Helps CEO and founder of Ocean Blue commenting on the deal said: "I am delighted to welcome Scaent as an investor and strategic partner for Ocean Blue'.
Germans Citrons, Chairman of the Scaent Group of Companies added 'We are delighted to have completed this investment in Ocean Blue and are looking forward to assisting in the development of the company as an important early investment in our technology portfolio.'
The Company's new developments for High Definition (HD) DVB and MHEG software technology are at the core of a new generation of broadcast platforms, these include mobile phones, portable media players (PMP), and Internet based Digital televisions (IPTV) as well as existing media platforms such as Digital terrestrial, cable and satellite. They also supply software for the Freeview Playback brand.
'The Scaent Group can provide access to capital and extensive resource to help build the business, and provide access to additional markets, especially the FSU, Baltic and Scandinavian region. I'm confident, that our partnership will result in Ocean Blue's products securing an even more significant market share in this booming sector', - said Derek McLennan, Scaent Group Executive Vice President.
'The Scaent Group's strategy during the last two years has been a steady diversification beyond the core energy related business. The Group is now in the process of building a powerful technology portfolio which will become another major business sector within its diversified holdings. Over the last eight months we have secured a strategic partnership with SKM Market Predictor, the leading provider of online real-time analysis in the energy market, Screen Technology Group PLC, a producer of attractive solutions for the mid and large sized digital advertising and signage market, and Ocean Blue Software. These exciting businesses are supplemented further by our growing IT related businesses in Lithuania' - added Jonas Garbaravičius, Scaent Group Executive Vice President.
Ocean Blue Software will use the funding to open a sales and software development office in Hong Kong and also a software support centre to assist in the company's expansion into the Russia and Asia.'
