Swift Media Ltd (ASX:SW1) has entered into an agreement with the Streamvision group to acquire a perpetual licence to its market leading streamCAST technology which enables guests to cast their favourite streaming service from their personal device, straight to their TV.
This innovative technology, expected to be initially released in the Mining sector this half, provides additional functionality to the entire Swift product range.
It allows guests to move seamlessly between Swift’s first-release entertainment content and their preferred streaming services, giving them the freedom to watch what they want, when they want. All whilst allowing facilities to manage bandwidth usage with Swift’s management platform.
The streamCAST solution works by providing a gateway device which bridges the on-premises WIFI network and the playout device network allowing communication between a guest’s personal device and a casting receiver device.
Combined with Swift’s premium movie content and clever internet management services, streamCAST keeps streaming level internet costs down while maintaining client separation for user privacy. Swift acquired this exclusive perpetual technology licence for $354,000, which includes rights to global updates and Streamvision support for three years.
This strategic technology acquisition not only enhances Swift’s product offering by giving guests and residents the ability to control their entertainment experience, it’s also the first step in Swift’s transformation to becoming an omni-platform provider,” Swift CEO, Pippa Leary, said.
“Our next generation product suite combines clever internet management with Swift’s first release movie content. It allows our client facilities to offer on-demand content without high-bandwidth costs, on whatever device the resident/guest prefers.
“Guests will be able to move seamlessly between their personal devices and in-room TV, their home settings and their home-away-from-home experience. It really is the best of both worlds and a game-changer for Swift and our clients.”
Streamvision CEO Greg Bassine said the streamCAST technology provides a 5-star experience that, up until now, only a hotel could provide.
“Swift acquiring the exclusive rights to this market leading solution not only means that their clients now have access to an enviable suite of in-room entertainment options, but it also gives our Technology increased exposure in the Mining and Aged Care sectors.
“This transaction strengthens the long-standing relationship we have with Swift and places us in good standing to take advantage of future opportunities to work together.”