NTT Investment Partners, Inc. (President and CEO: Hiroki Watanabe; hereafter, NTT-IP) and Ubitus, Inc. (CEO: Wesley Kuo; hereafter, Ubitus),1 a software platform provider in the field of multi-device content delivery, have today agreed on an equity investment by NTT-IP in Ubitus.
1. Overview of the Investment
Through the fund managed by NTT-IP (NTT Investment Partners Fund, L.P.),* Ubitus shares will be acquired by third-party allocation, for an amount totaling approximately 2.0 million dollars, and one person from NTT is to serve as a part-time director on the Ubitus board. At the same time, a joint committee is being established for promoting development and marketing.
*A fund established in March 2008 for the purpose of investing in business ventures in Japan and abroad having various technologies and expertise with strong future growth potential in information and communications fields.
2. Multi-device Video Content Delivery Business
On October 2, 2009, Nippon Telegraph and Telephone Corporation (President and CEO: Satoshi Miura; hereafter, NTT) entered into a strategic alliance with Ubitus and began exploring possibilities for cooperation in promoting multi-device content delivery business. The investment announced today is intended to strengthen this strategic partnership, toward developing new content delivery markets encompassing smart phones, ordinary mobile phones, PCs, IPTV and other devices.
Already NTT Advanced Technology Corporation (President and CEO: Shigehiko Suzuki; hereafter, NTT-AT) has begun service provision incorporating Ubitus software.2
The NTT Group and Ubitus plan to continue exploring ways to develop business in Japan and globally, and to create multi-device oriented services.
For further information, please contact:
NTT Investment Partners, Inc.
Noriyuki Kaya, Takafumi Iso, and Motoki Kondo
Global Business Strategy Office
Nippon Telegraph and Telephone Corporation
Ubitus, Inc. was founded in 2007 and has 80 employees with offices in Taipei, Tokyo, Seoul and Guangzhou. An outstanding provider of software platforms for fixed-mobile convergence (FMC) applications, the company offers next-generation services, making use of cloud computing solutions, for device manufacturers, wireless/wireline communication service providers and telecommunication network operators. These services allow rich media to be enjoyed on all kinds of devices, including PCs, IPTV, and mobile phones, as well as video sharing among friends.