...OTTilus, a new company specializing in over-the-top (OTT) video solutions for broadcasters, platform operators, and new media ventures. OTTilus will be a jointly owned company with Pilat Media owning 60 percent and SimpleStream owning 40 percent. SimpleStream is a London-based startup company founded and led by Adam Smith in 2010. The SimpleStream OTT platform is currently available and has 14 users in the U.K. including TV channels such as the Food Network, At the Races, and Ideal Shopping. These and other media companies have selected SimpleStream's hosted solution for streaming their channels to multiple devices and for delivering catch-up TV services over the Internet. With the enhancements being added and by leveraging Pilat Media's existing software, service delivery, and international presence, OTTilus is being engineered to suit the needs of a much wider market including larger broadcasters, operators, and clients outside of the U.K.

For an initial period of five years and subject to some exclusions, OTTilus will be the parties' exclusive vehicle for delivering OTT solutions to TV broadcasters and operators. SimpleStream will continue to provide its OTT solutions to non-broadcasters. Pilat Media is already involved with several OTT-related projects in which its flagship Integrated Broadcast Management System's (IBMS) multiplatform rights, content, and media management capabilities are exploited as part of wider multi-vendor solutions. Through OTTilus, Pilat Media aims to expand its footprint and cover a larger part of the value chain in the emerging OTT market, in turn opening up new opportunities with existing and new clients and enhancing revenue-generation opportunities globally.