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."