SeaChange Completes Master Purchase Agreement With a Top Five U.S. Cable Television Company
Leading VOD Provider Announces Second Major Customer Agreement This Quarter
ACTON, Mass.--(BUSINESS WIRE)--
SeaChange International, Inc. (NASDAQ: SEAC), the world's leading provider of on-demand television solutions, today announced that it has signed a Master Purchase Agreement with one of the five largest cable television companies in the U.S. This agreement includes the purchase of SeaChange's Video-On-Demand (VOD) software and hardware, advertising insertion solutions, as well as associated support services. SeaChange becomes the exclusive provider of VOD software and hardware for this customer under this one-year agreement with automatic one-year renewal provisions subject to certain conditions maintained by SeaChange.
With the execution of this contract, SeaChange has completed Master Purchase Agreements over the last two months with two of the largest service providers in North America. The Company expects to finalize two more similar announcements in the near future. Of particular significance, this contract exemplifies the confidence this longstanding customer has in SeaChange's products and services, further strengthening the Company's position as the leading supplier of VOD and advertising software, hardware and related services.
About SeaChange
SeaChange International is a leading provider of software applications, services and integrated solutions for Video-On-Demand (VOD), digital advertising, and content acquisition monetization and management. Its powerful open VOD and advertising software and scaleable hardware enable cable and telco operators, as well as broadcasters, to provide new on-demand services and to gain greater efficiencies in advertising and content delivery. With its Emmy Award-winning and patented technology, thousands of SeaChange deployments are helping broadband, broadcast and satellite television companies to streamline operations, expand services and increase revenues. Headquartered in Acton, Massachusetts, SeaChange has product development, support and sales offices around the world. Visit www.schange.com.
Safe Harbor Provision
Any statements contained herein that do not describe historical facts, including without limitation statements concerning expected future commercial agreements, may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties that may cause actual results to differ materially from expectations. The factors that could cause actual future results to differ materially from current expectations include the events, factors and risks previously and from time to time disclosed in our filings with the Securities and Exchange Commission, including, but not limited to, the Company's Amended Annual Report on Form 10-K for the fiscal year ended January 31, 2007 and the Company's periodic reports on Forms 10-Q and 8-K. Any forward-looking statements should be considered in light of those factors. The Company cautions readers not to place undue reliance on any such forward-looking statements, which speak as of the date they are made. The Company disclaims any obligation to publicly update or revise any such statements to reflect any change in Company expectations or events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results may differ from those set forth in the forward-looking statements.
Source: SeaChange International, Inc.
Released January 9, 2008