According to the statement, Technicolor has provided more than 48 million set-top-boxes to DIRECTV. The contract extension will allow the two companies to further develop their collaboration in new areas such as 3D, to meet the demands of the ever-increasing number of DIRECTV customers.
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Unedited press release follows:
Technicolor and DIRECTV Sign Contract Extension for Technicolor Set-Top Boxes
PARIS–(July 29, 2010) – Technicolor and DIRECTV Sign Contract Extension for Technicolor Set-Top Boxes
Technicolor’s 3D Services Enable the Launch of DIRECTV’s First 3D VOD Service
Paris (France), July 29, 2010 – Technicolor (Euronext Paris : FR0010918292 ; NYSE : TCH) today announced the signing of a three year contract extension to provide a wide range of SD and HD set-top boxes to DIRECTV, the world’s most popular video service. Technicolor is also the preferred provider of 3D services, enabling the launch of DIRECTV’s first 3D VOD service.
Since the beginning of this relationship, Technicolor has provided more than 48 million set-top-boxes to DIRECTV. The contract extension will allow the two companies to further develop their collaboration in new areas such as 3D, to meet the demands of the ever-increasing number of DIRECTV customers. DIRECTV is the first video service provider to offer a suite of three dedicated 3D channels including n3D On Demand.
“Technicolor has been a strategic business partner for DIRECTV for over fifteen years and has been a supplier in every set top box product category available for DIRECTV”, said Vince Pizzica, Head of Digital Delivery at Technicolor. “We are now supporting a significant number of HD channels, and are ready to meet new challenges in the future, such as greater interactivity and stereoscopic 3D services. We are honored that DIRECTV continues to put its faith in Technicolor to support these advanced services.”
Technicolor has been providing DIRECTV with multiple technology services such as high performance set-top-boxes, hospitality video systems, multi- dwelling broadcast distribution systems and aircraft video distribution technologies. DIRECTV has a strong reputation as an innovative broadcaster, rolling out new services including more than 160 channels of high definition television, offering integrated DVR functionality and now as a leader in 3D video services.
“Technicolor has consistently delivered the reliable, high quality products we need to remain at the forefront of the industry,” said Romulo Pontual, CTO of DIRECTV. “We look forward to continuing our relationship and leadership position as we enter new frontiers of innovation like 3D viewing in the home.”
Technicolor, widely recognised as one of the leading suppliers of set-top boxes worldwide, reached the milestone of delivering 100 million digital set-top boxes at the end of past year.
Technicolor is a company listed on NYSE Euronext Paris and NYSE stock exchanges, and this press release contains certain statements that constitute “forward-looking statements” within the meaning of the “safe harbor” of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on management’s current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from the future results expressed, forecasted or implied by such forward-looking statements. For a more complete list and description of such risks and uncertainties, refer to Technicolor’s filings with the U.S. Securities and Exchange Commission and its filings with the French Autorité des marchés financiers.
With more than 95 years of experience in entertainment innovation, Technicolor serves an international base of entertainment, software, and gaming customers. The company is a leading provider of production, postproduction, and distribution services to content creators and distributors. Technicolor is one of the world’s largest film processors; one of the largest independent manufacturers and distributors of DVDs (including Blu-ray Disc); and a leading global supplier of set-top boxes and gateways. The company also operates an Intellectual Property and Licensing business.