- 16 March 2006 13:33
Multiemedia hives off MTD to focus on satellites
Multiemedia Limited (ASX: MUL) announced today that it has sold its local technology distribution business, MTD, in line with the Company direction of expanding its presence in the international satellite services industry.
The sale, to a syndicate, frees up Multiemedia to concentrate on its burgeoning satellite services business and follows the recent successful acquisition of mediaports in Adelaide and Perth from New Skies Satellites B.V. of The Netherlands.
“Multiemedia’s divestment of this non-core business allows our rapidly growing company to focus on our NewSat satellite services division and take advantage of emerging opportunities in this sector,” Multiemedia Limited CEO and Founder Mr Adrian Ballintine said.
“In particular, we see enormous potential for ‘triple play’ (video, voice and data) to be increasingly delivered via satellite to the Australian commercial market.”
“We announced to the investor market in January that the company was focusing on strengthening its position as a major player in satellite services and the sale of MTD is a key step along this path by allowing us to concentrate on this strategic and profitable business sector,” Mr Ballintine added.
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Adrian Ballintine Chief Executive Officer Multiemedia Limited
Multiemedia Limited (ASX:MUL) is an Australian-owned public company delivering global satellite technology and communication services and digital advertising content through its two business divisions – NewSat Networks and AirWORKS Media. Headquartered in Melbourne, Multiemedia has offices and facilities in Sydney, Adelaide, Perth, Newcastle and Dubai; with satellite Mediaports in Perth and Adelaide.
NewSat Networks offers a full range of managed communication services, Telemetry, Tracking and Control (TTC) and carrier monitoring from its Mediaports for commercial and government customers; utilising the latest generation satellite and VSAT technology with two way end-to end communications to Australia / Oceania, Asia, the Middle East and Africa.
AirWORKS Media offers an innovative advertising delivery concept by matching media to the moment of decision, providing tailored media packages and delivering digital advertising content, via satellite to stores and other points of sale.
Sally Downs Multiemedia Marketing & Communications Manager 03-9674-4604 Rob Jolly, Impact Corporate Communications, 9853 7665