RRsat Expands Reach in Asia With a Five-Year, US$11.7 Million New Agreement With Customer
One of the Largest Contracts in RRsat's History
March 03, 2014 --
AIRPORT CITY BUSINESS PARK, ISRAEL -- (Marketwired) -- 03/03/14 -- RRsat Global Communications Network Ltd. (NASDAQ: RRST), a leading provider of digital media services, including content management and global distribution services to the broadcasting industry, announced today it has signed a five-year, US$11.7 million new agreement with a customer in Asia. The agreement is one of the largest single contracts in RRsat's history. Due to confidentiality agreements, the name of the customer was not disclosed.
Under the terms of the agreement, RRsat will provide content acquisition, media processing and distribution services of SD and HD content, including live events coverage, to Asia.
Lior Rival, Chief Commercial Officer of RRsat, commented, "Demand remains strong for our services as broadcasters strive to reach more customers and expand their global reach. More and more, broadcasters are looking to expand their offering to include linear and live programming, in multiple formats to multiple regions and RRsat is an ideal partner to facilitate these efforts. Our expanded geographic presence, innovative infrastructure, rigorous standards and enhanced capabilities are opening new doors for us in new markets, and this contract in Asia demonstrates our success."
RRsat Global Communications Network Ltd. (NASDAQ: RRST) provides global, end-to-end, digital content preparation and management, as well as content distribution services to the rapidly expanding broadcasting industry, covering more than 150 countries. Through its Global Network, composed of satellite, terrestrial fiber optic capacity and the public Internet, RRsat provides high-quality and flexible global content distribution 24 by 7 services to more than 630 channels reaching multiplatform operators, Internet TV and direct-to-home viewers worldwide. In addition, the company offers worldwide content management and distribution services for sports, news and other live events. More than 130 channels use RRsat's advanced production and playout centers, comprising of comprehensive media asset management services. Visit the company's website www.rrsat.com.
Safe Harbor Statement
This press release contains forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the companies and the industry as of the date of this press release. We undertake no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in our expectations, except as may be required by law. Forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those contemplated by the forward-looking statements, including the risks indicated in our filings with the Securities and Exchange Commission (SEC). For more details, please refer to our SEC filings and the amendments thereto, including our Annual Report on Form 20-F for the year ended December 31, 2012 and our Current Reports on Form 6-K.
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Tel: +972 3 9280808
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