Announcing £3.4 Million Funding
Falcon Media House (LSE:FAL), the global digital media group focused on the over-the-top (‘OTT’) market, is today pleased to announce the securing of £3.4 million of additional funding via a convertible loan note, supported by existing shareholders and Group management.
As outlined in the strategy update announced on 2 October 2017, Quiptel’s portfolio of OTT technologies is now the Company’s primary business focus. By putting Q-Flow, the patented suite of software which optimises the dynamic routing of video across any network, and the Quiptel Media Platform, a scalable end-to-end solution for rapid deployment of OTT services, at the core of Falcon’s activities, the Board sees significant potential to provide a clear path to market for global brands, operators, content libraries, creators and rights-holders that are currently underserved by existing providers. Consumers ultimately benefit from Quiptel’s technology through reduced buffering and faster time-to-picture, while businesses can utilise both open and private networks to more efficiently stream video in harsh or constrained environments.
Gert Rieder, Chief Executive Falcon Media House, commented, “We believe that sharpening our strategic focus on our proprietary technology will benefit Falcon, its customers and shareholders both in the short and long term. We recognise, as do our customers, that the best returns for the Company, in the fast-paced and dynamic video streaming market, will come from accelerating the development of our core Quiptel technology, which has already generated significant interest. We are therefore delighted that our new strategy is so strongly supported by existing shareholders.”
For more details about the Note, please see the RNS announcement.
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