UST Global, an information technology solutions and services company for Global 1000 enterprises, has announced $2 million investment in xTV, a pioneer in the new Media as a Service (MaaS) sector.
xTV is the Next Generation Media Co. which delivers the platform to build your .TV.
The company's vision is to deliver any organization with the capability to lower the cost of content production and multiply the consumption of their media by delivering a true, real-time, lean-back TV experience without the need to install new devices or applications.
The strategic investment will be applied to expand xTV sales, marketing and engineering team, expanding the xTV team into Los Angeles and two new senior appointments.
Additional to the investment, UST Global and xTV will partner to bring MaaS to Fortune 1000 companies across the US.
“Enterprise Media is a tidal wave of new opportunity, evidenced by xTV's strong customers and partners such as Microsoft, Intel & AOL (News - Alert),” said Tony Velleca, CIO of UST, in a statement.
“We're looking forward to deploying xTV into many of our significant verticals and allowing xTV customers to tap into our 15,000 strong organizations to deploy any size .TV network,” said Velleca.
Officials with UST Global said that this investment will enable xTV to scale up the demand for .TV with new customers.
The pact will help xTV and UST use the xTV platform to organize and push combinations of video, social feeds and news into a real-time multi-screen enterprise .TV network where viewers can lean back, and immerse themselves in the brand.
The result is an entirely new media network, which can be tightly integrated with the SharePoint platform to multiply the consumption of streaming media by employees, customers, partners and investors.
Joe Ward, CEO at xTV said that having UST Global as the company’s strategic investor and go-to-market partner significantly expands the company’s reach into the global enterprise.
Ward said that xTV and UST's customer base will see a significant acceleration in the xTV network offering.
Earlier in March, xTV had announced the deployment of the Windows Azure-hosted xTV platform for the .TV era – a substantial step forward in Realtime, multiscreen user interaction for Microsoft (News - Alert) SharePoint customers.
Customers can use the xTV platform to organize and push combinations of video, social and news into a Realtime multi-screen formats where the viewers can lean back and interact with their new Enterprise .TV Network.
The result is an entirely new media network, which can be tightly integrated with the SharePoint platform to multiply the consumption of streaming media to employees
Edited by Maurice Nagle