This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Synacor Enters Booming Latin America Market, Selected By Grupo TVCable Ecuador For Next-Gen Portal, Email Services, And Future TV Everywhere

BUFFALO, N.Y. and QUITO, Ecuador, Aug. 13, 2013 (GLOBE NEWSWIRE) -- Synacor, Inc. (Nasdaq:SYNC), the leading provider of next-gen startpages, award-winning TV Everywhere solutions and cloud-based Identity Management (IDM) services, across multiple devices for cable, satellite, telecom and consumer electronics companies, today announced it has been selected by Grupo TVCable Ecuador, Ecuador's largest cable operator and founding member of TEPAL, for consumer portal and email services; trials commencing later this year with TV Everywhere in phase two. This agreement cements Synacor's commitment in Latin America, bringing content, personnel and, eventually infrastructure to the market.

Synacor's partnership with Grupo TVCable Ecuador marks the company's most significant foray into Latin America. With approximately 50 million high-speed Internet households in Latin America, there is a clear opportunity for Synacor to expand its reach in Ecuador and beyond. According to the Latin American Council of Multichannel Advertising (LACMA), pay-TV grew in all Latin American countries in the past year, and today more than 55 percent of Latin Americans have access to the pay-TV (April, 2013). This number is expected to increase in coming years. And the mobile market is red hot, projected by Informa Telecoms & Media to grow 7.1 percent this year, totaling 742 million active mobile subscriptions.

"Providing our customers with world-class portal and email services is of vital importance to Grupo TVCable Ecuador, and we're particularly excited about the opportunity to entertain and inform our high-speed Internet subscribers," said Grupo TVCable Ecuador CEO Jorge Schwartz. "Our relationship with Synacor is valuable in providing Grupo TVCable Ecuador further opportunities to cross promote many of our services to our customers, keeping them entertained, engaged and loyal. We select and invest in leading technology firms that give us sustainable competitive advantages. We have started the trial planning, scheduling and early execution steps. Our early look at Synacor's platform and its capabilities is both reassuring and promising. Welcome, Synacor, to Latin America."

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,698.18 -77.94 -0.44%
S&P 500 2,059.69 -8.20 -0.40%
NASDAQ 4,880.2280 -20.6570 -0.42%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs