HONG KONG, March 17, 2014 /PRNewswire/ -- UTStarcom (NASDAQ: UTSI), a global telecommunications infrastructure provider, today announced that its partner, aioTV Inc., has received an important industry recognition for innovation that builds on aioTV's growing stature in the media industry.
aioTV has been named to the 2014 CableFax Digital Hot List, which recognizes innovation and leadership in the development of digital media distribution services and technology. Management of aioTV joined executives from companies such as AOL, ESPN, Hulu and Netflix in receiving an award at the CableFAX Digital & Tech Awards Lunch in Manhattan on March 13, 2014.
Key Strategic Investment for UTStarcom
UTStarcom invested in aioTV in 2012 as part of a strategy to acquire value-added media operational support services to sell to its core broadband customers. aioTV fits this strategy as its technology helps cable TV service providers worldwide unify core multi-channel video, streaming and Internet content into a single TV experience across connected devices. This technology gives customers greater "on demand" viewing capabilities, freeing them from broadcasters' programming schedule. UTStarcom is aioTV's largest single shareholder and holds two seats on its board of directors."This is an exceptional achievement for aioTV as it shows how much the media industry values the blend of creativity and technical excellence that the company brings to media product development," said William Wong, UTStarcom's Chief Executive Officer. "aioTV is key strategic investment for UTStarcom that we expect will significantly increase our value to our broadband customers and add products to our portfolio that help them maintain and grow their end user customer base." Building aioTV's Industry Reputation The CableFax Digital Hot List recognition builds on aioTV's growing reputation in the industry. Last year the analysts at Gartner named the company in its 2013 Cool Vendors Report as one of the four technology providers that are essential to success in today's digital media business.