TIDMFAL
RNS Number : 5197A
Falcon Acquisitions Limited
27 March 2017
27 March 2017
Falcon Acquisitions Limited ('Falcon', the 'Group' or the
'Company')
Commencement of Trading on the London Stock Exchange
Falcon, the international media group focused on the
over-the-top ('OTT') video streaming market, is pleased to announce
its shares have commenced trading on the London Stock Exchange's
('LSE') Main Market under the ticker FAL. In conjunction with
commencement of trading, the Company has raised GBP4 million,
before expenses, through a Placing of new Ordinary Shares at 25p
each. The funds will be used to transform Falcon into a leading OTT
broadcast media company based around Q-Flow, the Company's
revolutionary software, which is proven to prevent the frequent
loss of signal or 'buffering' that currently affects the OTT video
streaming market. Shard Capital Partners LLP acted as Joint Broker
on the Placing together with Nuovo Capital LLP, which is also the
Company's Financial Adviser.
Following the successful re-admission of its ordinary shares,
the Company will be renamed Falcon Media House Limited, for which a
further update will be provided in due course.
Overview
-- LSE listing and GBP4 million Placing to support rapid growth
strategy aimed at taking advantage of explosive growth in demand
for digital video, streamed on-demand known as the OTT video
streaming market
-- OTT forecast to grow from US$28 billion in 2015 to US$62
billion market by 2020 as consumers, specifically the millennial
demographic, increasingly demand access to personalised video
content and packages 'anytime, anywhere, and on any device'
-- Revenue model based on licensing out Q-Flow, which is proven
to deliver seamless video streaming, to network providers and using
this technology as the foundation to build Falcon into a vertically
integrated OTT business covering technology, distribution and
content:
o Technology - provides a step change in consumers' viewing
experience and generates time and cost savings for network
providers; contracts for Q-Flow signed with major international
groups including Tata Communications and Frontline
o Distribution - Direct-to-Consumer ('D2C') branded OTT TV
service delivers live and video-on-demand sports content in line
with strategy to target sports and sports lifestyle programming
o Content - operates a media and production studio company that
has secured unique content including Eastern College Athletic
Conference ('ECAC'), the largest US east coast sports college
franchise which sponsors over 30 men and women's varsity sports
-- Management team has extensive telecom, digital media and
technology experience combined with a proven track record in the
equity capital markets
Falcon Director, Gert Rieder, said, "The OTT market has ushered
in a broadcasting revolution that has irrevocably transformed the
way that millions of people across the globe choose, access and
watch multimedia content. Yet until now, achieving seamless
streaming has evaded even the largest providers in this explosive
market. Through our patented Q-Flow technology, Falcon has the
capability to deliver an unrivalled, buffer-free viewing experience
to a more demanding audience.
"With Q-Flow forming the foundation of our development strategy,
we have built a global broadcasting group with the potential to
deliver across the core areas of the OTT market: seamless
streaming, direct distribution, and compelling content. We believe
that our Teevee D2C network can be the 'Netflix for Sports',
powered by Q-Flow and partnered with Teevee Makers, our media and
production studio company. With deals already in place for Q-Flow
with the likes of Tata, the world's largest global network, and
Teevee Makers with the likes of the ECAC, these agreements underpin
the ambition of Falcon Media House and secure us rich content,
scale and reach.
"By capitalising on our leadership team's unparalleled
telecommunications, technology and media experience, we are tapping
into the insatiable demand for a more personalised and flexible
multimedia experience, and in turn establish Falcon as the UK
leader in the OTT market."
FURTHER DETAILS
INTRODUCTION
By bringing together state of the art, patent protected, video
streaming technology, unique, independent content and a
purpose-built consumer distribution platform, Falcon is focused on
responding to the explosive growth in the global over-the-top
('OTT') video streaming market. The Directors believe that the
combination of these strategic assets with a high calibre
international and experienced leadership team will create a global
internet broadcast media group with multiple revenue streams; a
global business that will be at the heart of a radical shift in the
digital transformation of video and TV consumption.
Falcon's objective is to build a multi-divisional global
internet broadcast media group; an end-to-end OTT business with
three distinct and complementary operational activities:
The Technology Company - Quiptel
Quiptel has developed a complete software suite called the
Quiptel Media Platform ('QMP'), which once deployed is an end to
end Online Video Platform ('OVP') solution. The patent protected
module, Q-Flow, within the QMP suite controls video flow in
networks and enables high quality streaming of TV and video over
virtual paths in the public internet across any network to any
device. The solution enables B2B customers, such as network service
providers, to deliver content over-the-top of existing
infrastructure.
Quiptel has successfully sold its TV and video platform to
Mobicom and Frontline. These customers provide potentially
important credentials as the Company seeks to develop further
sales. For example, Mobicom, the leading telco in Mongolia,
currently relies on Quiptel to power its TV and video platform and
Frontline, an ISP in Canada, uses Quiptel to deliver over 250
streamed SD and HD channels to its customers.
The revenue model of Quiptel comprises initial one-off
implementation fees followed by ongoing licence revenue based on
the number of customers activated on the network. The ongoing
licence revenue is known as a Software-as-a-Service ('SaaS')
revenue model. In addition, Quiptel can receive individual change
requests from customers for tailor made solutions and/or
enhancements, which lead to further revenue. Such change requests
are invoiced on a percentage completed basis.
Quiptel plans to expand its geographic reach significantly over
the next 12 to 24 months. Special focus will be given to expanding
the streaming distribution network in the US, in support of the D2C
activities of Teevee, during early 2017 but equally the intention
is to expand the existing customer base by closing current sales
leads with potential customers in the emerging markets and the US.
To capitalise on the sales pipeline, the sales force and technical
support team will be increased. In parallel, the business is
building out a reseller network with some of the major
communication providers, data centre companies and solution
providers, to leverage the deployment of Quiptel's services and
thereby scale the business.
Tata has been engaged to provide the network infrastructure that
will power the OVP for the Teevee service, helping all Quiptel's
customers and positioning the Company as a stronger player in the
market. The service will use the QMP software and Tata's network
infrastructure to deliver Quiptel's online video service. This
contract is for the provision of hardware, network and data centre
services across the USA and Europe, with the future intention of
expanding the service across Tata's global network. The first phase
is for a trial deployment in two US data centres, located in Santa
Clara and New York, followed by further support for a full Teevee
service launch in the first half of 2017. The number of subscribers
is expected to grow rapidly and Tata will add hardware and data
capacity as required to match the growth throughout the term of the
contract. The contract is based on an opex model with hardware
costs being amortised over 12 months, and the monthly charge rate
being adjusted accordingly as further hardware is added. In
addition to providing data centre hosting services, Tata will
provide cloud based hosting for the OVP service management
functions and VOD libraries, with fast access and transit
throughout Tata's global network, and video upload and ingest
capabilities from live sports events.
Quiptel has registered several patents for its platform,
primarily in the UK but also in Hong Kong, the United States and
Canada. These patents cover various apparatus and methods of
controlling the transmission rate of a data stream and redirecting
client devices to a streaming server. The Directors believe these
patents provide the Quiptel platform with effective protection
against infringement of the Quiptel Group's intellectual property
in the relevant jurisdictions. Nonetheless, the Directors believe
that the value of the Quiptel Group is not solely reliant on the
existence or enforceability of the patents, due to the unique
expertise and experience of the Quiptel Group management team.
The IP Distribution Company - Teevee
The vision for Teevee is to become the leading online
destination for fans passionate about "independent sport" not
generally available on cable or satellite or other conventional TV
channels. Teevee will show scripted sports programmes and licenced
sports content from around the world. The content offering will
include live, original and archived material. The mission is to
offer people easy, affordable digital access to independent sports
action - fast and reliable - anywhere.
The primary objective is to establish the Teevee brand as a
consumer destination renowned for media streamed flawlessly to any
device and to be a top three OTT US consumer destination for
independent and alternative sports, live and on-demand.
Teevee is currently trialling a beta version of its service. A
commercial service launch is planned for the first half of 2017.
The Teevee launch is based on the branding platform developed by
Teevee and the content and channel development undertaken before
its acquisition. Teevee will launch its business based on freemium,
subscription and advertiser sponsored business models. The Teevee
business will be powered by the Quiptel Group's technology for its
quality and reliance and will partner with Teevee Makers for access
to original and licenced content and curation.
The Content Company - Teevee Makers
Teevee Makers is a specialist media and production company
producing content for Teevee and third party broadcast
distribution, initially focused on the sports sector. Its initial
focus will be on supporting the Teevee launch in the US with sports
content.
Teevee Makers has entered an agreement with the US Eastern
College Athletics Conference, Inc. securing certain rights to
stream live and archived sports and special events sponsored by
ECAC. Under the terms of the ECAC Content Agreement Teevee Makers
will derive income from advertising on a revenue-sharing basis and
subscriptions to a dedicated Teevee channel showing a wide variety
of sports from the ECAC. ECAC is a college athletic conference
currently comprised of approximately 265 colleges and universities
in the eastern United States. ECAC's wide variety of sports and
large number of colleges participating provides a potentially wide
audience along the eastern states of the US with participating
students, students supporting their colleges and all their families
and networks being potential subscribers for the Teevee ECAC
channel, in addition to sports fans generally.
Teevee Makers has also secured an exclusive licence for Ed
Randall's Talking Baseball Show, a celebrity sports chat show, for
distribution on both Teevee's D2C network and potentially on
traditional US broadcast networks. Additionally, it has acquired
the rights to produce a demonstration recording of a program
entitled "The Better Man Show" under the Better Man Content
Agreement and subsequently to elect to proceed with full production
of the show. Teevee Makers has the first pilot programme in
production and is testing the interest of potential sponsors.
THE OTT MEDIA SECTOR OPPORTUNITY
The Directors believe that the parameters of the Group's target
market, the OTT media sector, have shifted significantly in the
last two years with three macro trends converging to create a
valuable opportunity for businesses with innovative ideas,
technological solutions and commercial models.
Consumers are embracing streaming, everywhere
The Millennial generation is the biggest in history - in the US
alone there are 92 million people now in the 15-35 age group. They
are the first generation of 'digital natives' and have different
attitudes to life, ownership and brands. By 2020 it is forecast
that they will form 50% of the global workforce. Millennials have
driven the shift from legacy channels and the living room TV
screen, to seeking out the content they desire on whatever screen
is most convenient 'now'. From VOD ("Video on Demand") to box set
binging, consumers are changing the way they both find and consume
audio and video entertainment. Discovery of new content is an
important part of this development. A growing majority of
Millennials use streaming video services, such as Netflix, Amazon
Prime Instant, Maxdome, Clarovideo and others. However,
significantly, the 35-74 age group is also now subscribing to S-VOD
("Subscription Video on Demand") in greater numbers too. S-VOD is
shifting from a trend to the new normal. A similar trend can be
seen in the audio segment with services such as Spotify, Tidal and
Apple Music winning market share over digital downloads and CD
sales.
Nearly half of US consumers now subscribe to a streaming
service. Of these subscribers, 61% of consumers value their
streaming video service among their top three subscription
services. Per Deloitte, consumers aged 14-25 value their streaming
service subscriptions more than pay TV.
The rapid emergence of OTT platforms
OTT services have responded to this demand for S-VOD. As uptake
in mobile and smart devices has grown alongside 'better' broadband
in developed markets, OTT allows people to consume audio and video
content on whatever device they want, wherever they have internet.
This has led to an explosion of OTT services. Juniper Research
estimates that that the number of global subscribers to OTT TV will
increase from 92.1 million in 2014 to 332.2 million by 2019, and
although the North American market will remain strong and continue
to dominate the field in terms of premium content production, the
OTT growth will fan out around the world with the Far East catching
up through rapidly increased production of local programming. RN
Research predicts market growth from $28.04 billion in 2015 to
$62.03 billion by 2020, at an estimated compound annual growth of
17.2%.
The Directors believe this growth in S-VOD has impacted heavily
on platform and hardware innovation. OTT technology is focused on
ensuring the end viewing experience is optimised and the increasing
availability of Ultra High Definition ('UHD' or 4k) content will
place more pressure on OTT platforms. IHS is forecasting that
annual worldwide shipments of Ultra HD televisions will grow 719%
over the next few years, from nearly 12 million in 2014 to nearly
96 million in 2019. They estimate there will be over 300 million
UHD televisions in use globally by the end of 2019.
Inevitably, in Western Europe and the USA a growth in OTT
subscriptions is impacting on Pay TV services. In June, last year
Boston Consulting Group noted that, in the fourth quarter of 2015,
13.7 million US households had broadband but no pay TV service, up
from 9.8 million in the first quarter of 2013. In addition,
consumers are actively thinning the services they buy from
multichannel-video-programming distributors.
The growth of independent content
As the barriers to distribution recede with the advent of OTT
platforms, independent content is being originated to respond to
consumers' passions. Independent entertainment looks to appeal to
existing fan communities and market observers point to the most
emotive content leading niche segments, with sport leading the
charge in the US. The independent content providers have the
opportunity to tap into existing communities and to refine content
based on becoming part of those communities.
THE PRODUCTION DEVELOPMENT STRATEGY
In order to understand the breadth of audience motivations in
the OTT media space, it is necessary to look at how brands position
themselves in it. The Directors believe that few businesses offer
an end to end proposition; from audio and video streaming
technology to content generation and curation, to the positioning
and delivery of a network of subscription channels or services.
However, audience wants and needs can be broadly defined based on
the macro trends shaping the space.
The consumer's perspective
OTT network subscribers are from a broad background with a
neutral gender split across North America and Europe. Millennials
have led adoption, but increasingly it is a shared mindset,
shifting attitudes to entertainment consumption and perceived value
rather than life-stage that drives adoption.
Personalised content. Personalised packages
From mobile phone operators offering pay-as-you-go as an
alternative to a monthly fee, to gyms such as Pure Gym unbundling
the gym subscription; from large enterprises like Universal
Pictures and Microsoft unbundling employee benefit packages to
health insurers like Vitality offering 'tailored cover', consumers
are increasingly seeking out the opportunity to shape product
offerings to better suit their needs. This is having an impact in
the media space too. The 'skinny bundle' is also anticipated as the
next trend in the OTT space. Accenture also points to a growing
consumer desire to personalise subscriptions to secure best value
for money.
In addition to personalised packages, the growth in demand for
'niche content' means that people are looking to 'unbundle' to
enable them to better match the content they access to their own
passions.
Anytime, anywhere, on any device
Market analysts are wary of over-stating the decline of
entertainment consumption on the big (TV) screen with the growth of
internet connected TVs. The Directors believe that households with
a streaming video device or a smart TV are much more likely to
subscribe to S-VOD than those that don't have a SVD ("Smart Video
Device") or smart TV. However, the top three connected video
devices for the 18-34s are smartphones, connected televisions, and
the PC. The Directors also believe that mobile video will be the
biggest contributing channel to the anticipated growth in cellular
data traffic over the next five years.
With the growth of mobile, consumers are demanding a good
viewing experience as well as the right content and for consumers
in maturing markets the ability to transition from one screen to
another is, increasingly, something worth paying for.
By 2020, mobile devices will account for 52% of global internet
traffic and 40% of installed flat panel TVs will be UHD.
Perceived value of pay TV v OTT S-VOD and live solutions
In Q2 2015 cable and satellite operators lost half a million
customers in the US alone. Boston Consulting Group writes of the US
Market: 'US consumers are dropping pay TV (or not subscribing in
the first place) in larger numbers than ever before. In the fourth
quarter of 2015, 13.7 million US households had broadband but no
pay TV service, up from 9.8 million in the first quarter of 2013.
In addition, consumers are actively thinning the services they buy
from multichannel-video-programming distributors (MVPDs). These
changes are not solely a result of sensitivity to rising prices;
rather, the price-to-value ratio has depreciated. The price of pay
TV continues to climb, while inexpensive (or free) alternatives to
pay TV have proliferated, tempting viewers to find better value
elsewhere.
In APAC, the growth of the OTT sector is driven by growing
awareness of cheaper alternatives to pay TV. Although piracy
remains an issue for content owners and distributors, a pirated box
set can be broadly comparable to the monthly subscription fee for a
local premium OTT service.
Figures from the US market point to consumers spending over US$6
(US$6.18) per month on Netflix, Hulu Plus and other subscription
OTT video services. Parks Associates writes: 'A typical price point
for a subscription service is US$7-$10, but several niche services
are available for under US$5. However, U.S. broadband households on
average spend less than US$1 per month buying and less than US$1
per month renting digital video, indicating they purchase less than
one digital video a year and rent between one and four videos per
year.
Others place the monthly subscription price point higher.
The service provider's perspective
In the media space, the term 'service provider' is often broadly
used with broadcasters, telecoms providers, S-VOD services,
streaming networks and even brands grouped under the same banner.
The Directors believe that what unites these distinct business
types is a focus on delivering content or an end-user experience,
optimally. Legacy service providers such as telecoms providers and
broadcasters have seen OTT players directly impact their revenues
and many are looking to launch OTT services themselves to plug the
gap. The Directors believe that the technology that enables service
delivery will be key to success. Research shows that a poor viewing
experience is increasingly the reason for subscriber churn in the
OTT space. A recent survey by Accenture indicated that consumers in
the US and Europe abandon video streaming if it is delayed by more
than two seconds. The Directors believe that the availability of,
and consumer demand for, 4k or UHD content will make 'how content
is delivered' even more important in the future.
In the recent months, we have seen a new breed of 'service
provider' compete for consumer attention. In April 2016, the
National Football League announced its decision to partner with
Twitter - transforming the social media platform into a
'broadcaster' overnight. And on 15 September 2016 they streamed
their first live American football game to 2.1 million viewers.
Bloomberg reflected that this strategic move was in recognition of
the cord-cutting trend increasingly threatening the traditional
broadcast model: 'The league is aware that a growing number of
households are comfortable streaming video over the Internet, and
this is an opportunity to appeal to so-called cord-cutters, as
former cable-TV subscribers are known.'
The advertiser's perspective
The Directors believe that OTT networks are set to see an
increase in interest from advertisers as their ability to connect
brands with finely segmented consumer profiles is increasingly
recognised. The trend of 'niche' is of direct appeal to
advertisers, increasing potential to convert views to sales through
consumers' increased engagement with the content and therefore,
associated offers.
The Boston Consulting Group observes: 'Spending on digital media
has been booming in social and video formats, but the technology to
deliver advertising in the online TV ecosystem lags behind usage.
Nevertheless, advertising will eventually catch up. Online players
are developing innovative ways to lure advertisers hungry to reach
large and different digital audiences.'
COMPETITIVE LANDSCAPE FOR THE GROUP
The Directors believe that the synergies between the three
business lines, technology, IP distribution and content, will
result in significant differentiation to any competitor operating
in one only of the comparable vertical silos to the Group's three
business lines. The Directors believe that there are very few
companies trying to integrate the synergies of technology, IP
distribution and content for the benefit of end customers.
MARKET COMPETITION
The global market for video streaming and video on demand
services is large, complex and very fragmented. Consequently, the
Board believe it's the perfect time to enter the market with a
cohesive strategy to bring next generation technology and more
efficient access to independent content together through a global
distribution destination brand for consumers to stream what they
want, when and where they want it.
The digital media eco-system is made up of broadcast brands,
independent content companies, infrastructure companies
(telecommunications providers, content delivery companies), through
to encoding companies, media player companies and digital rights
management companies, and advert insertion companies, to name just
some of the main participants. Products from these companies can be
both software and hardware in nature and operate in local and
global markets. Frequently, in this digital market, participants
will enter partnerships, syndications and collaborations, to win
and deliver business.
As previously discussed, a key characteristic of the Falcon
Group structure is the creation of the three distinct operational
activities: The Technology Company, the IP Distribution Company and
the Content Company. This structure is designed to allow the Group
to be agile, responsive and de-risk its overall business strategy.
The benefits of this structure enable each business unit to
identify and develop products and services that are market leading
in each case but truly best of breed when combined.
Competition - The Technology Company - Quiptel
In delivering a software based CDN solution, Quiptel will see
itself competing against the traditional CDN suppliers in the
market. Among the leading CDN suppliers are Akamai, Limelight and
Amazon CloudFront. These suppliers are all global suppliers
delivering their services in multiple countries and in multiple
product areas. These suppliers traditionally service the Tier 1
telecommunication companies, global e-commerce sites, news portals,
media and entertainment companies and broadcasters.
Although competing against the CDN suppliers, the Quiptel
software solution could also be a supplement to the CDN solutions
and enable efficient delivery of content to mobile devices. As well
as competing against CDN suppliers, Quiptel is also competing
against OTT Video Platform Providers. Among the most renowned
providers are Kaltura, Ooyala and Quickplay. All of these suppliers
are offering turn-key OTT TV solutions embedded with video
monetisation, flexible customisations, and social interactions and
distributing TV on demand and live-to Video on Demand. The market
for OTT Video Platform Providers is very fragmented without clear
global market leaders.
Competition - The IP Distribution Company - Teevee
Teevee is ultimately competing against any firm which seeks to
carve out a slice of a households' entertainment budget. That means
Teevee is up against not only subscription based OTT services such
as Netflix and Hulu, but also any other non-essential entertainment
activity (such as rentals, music, cinema etc.). The Directors
believe it is unlikely that a household will increase its total
entertainment spend to accommodate a Teevee subscription, but
rather people may unsubscribe from one service and choose another.
Therefore, the Directors believe it is crucial for Teevee to
deliver an end-to-end experience that is better than the one it
might potentially replace.
In Teevee's initial chosen niche of US sports OTT services the
Directors believe there are a vast number of direct competitors,
ranging from national to regional networks. Competing US Sports OTT
service providers comprise at least 36 National Sports networks;
including ESPN and One World Sports, and single sport focussed
providers such as the NFL Network, the Tennis Channel or the World
Fishing Network; and over 13 Regional sports networks such as Fox
Sports Networks and Spectrum Sports.
According to Parks Associates, 16% of US households have a
sports OTT video subscription. Although it does not stream live
games, NFL Game Pass is the most highly adopted service, with 6 per
cent of US broadband households having a subscription compared to 4
per cent for the WWE Network and MLB.TV. Parks Associates
concludes: 'For sports content owners, OTT is a viable way to
expand audience reach, but there are technical issues to consider.
The user experience is of paramount importance to the viewer for
sports content'.
Competition - The Content Company - Teevee Makers
Teevee Makers will be competing in a very fragmented competitive
landscape of international and local studios and production houses.
The focus of Teevee Makers will be supporting the distribution
strategy of Teevee with a focus on sports related content in the
US. Teevee Makers will produce the curated shows and programmes for
which the Falcon Group has acquired the rights. Among the more
well-known sport and lifestyle content houses in the US is Red Bull
Media House producing content for the Red Bull network and
customers. Likewise, several of the major sports leagues in the US,
like the NFL, have their own studio and production company.
KEY DEPENCIES - CUSTOMERS AND SUPPLIERS
The Group is formed with initial revenue streams expected both
from the Quiptel Group and Teevee Makers. Quiptel is expected to
grow beyond its initial customer base promptly in 2017, and already
has a good pipeline of target customers. These target customers are
expected to be clients for the medium to long term and accordingly
churn (or leave) rate is anticipated to be low. Sales Account
Management for the Quiptel business is critical to regular
sensitivity reviews on customer health and growth plans. The
Quiptel business operates a customer relationship management system
that enables management to track and monitor activity. The
combination of ongoing account management and the rapid conversion
of the sales pipeline into operating contracts are the two critical
tasks to continue to manage the risk of an evolving customer base.
If Quiptel is successful in acquiring 30 new clients within 24
months in accordance with its target, the expected customer profile
means it is unlikely to be dependent upon a small number of these
customers.
For Teevee, development and launch of the streaming service is
the most critical task on the business roadmap. The win and uptake
of subscriber customers to the Teevee service is dependent on the
launch of the service and quality of the marketing strategy to
alert the consumer market as to the availability of this new
streaming service. The Directors believe that the Teevee and wider
Falcon team have the expertise, project management and marketing
experience and industry relationships to de-risk this task.
For Teevee Makers, the Content Agreements will produce ad sales
and revenue share income. This existing content can produce further
income from on-boarding additional advertisers and the Group has a
head of advertising sales in New York to drive an increase in
business with effect from Re-Admission. The number of shows that
this business unit can produce and sell is the other main driver
of, not only income generation, but also competitive
differentiation in the market. Identifying and securing unique and
exclusive content is a key performance objective for this business
unit. With the combination of a focus on advertising sales around
existing media assets acquired and an open regular search for new
content, the Directors are confident Teevee Makers can generate
additional earnings in this business unit in the near term and
remove the reliance on the early revenue streams.
THE TEAM
Directors
Gert Rieder, Executive Chairman (born 2 June 1962 aged 54)
Mr Rieder, who is based in Zurich, Switzerland, has over 20
years of experience as a senior executive and consultant building
companies, markets and revenues globally while heading up
start-ups, advising on board positions, and leading business
development and growth for companies and customers in Scandinavia,
Europe and the Middle East. After graduating from Aarhus School of
Business, Mr Rieder joined leading telecom provider Tele Danmark
where he took on a series of commercial roles finally becoming a
Product Director. He then moved to a telecom start-up Sunrise
Communications in Switzerland where he joined as Chief Commercial
Officer and was later promoted to Chief Operating Officer leading
the product roadmap activities and successfully developing the
initial product launch plan. At Danish TDC Fixnet Nordic he served
as Executive Vice President and Member of the Executive Board
focusing on restructuring the organisation with emphasis on
strengthening customer service and sales operation. He was also
responsible for optimisation of distribution channels by redefining
a nationwide chain of retail shops and call centres. He was also a
Deputy Chief Executive Officer of Vopium, a global voice over
internet protocol player, helping to prepare the company for
listing on Euronext Paris. Mr Rieder also served as Chief Executive
Officer of Batelco in Bahrain one of the leading telecom providers
in the Middle East and Africa region and as Chief Executive Officer
for Comendo Group, the leading provider of cloud-based IT-security
solutions in Scandinavia - both publicly listed companies that
focused on acquisitive growth.
Currently Mr Rieder is a non-executive director of Challenger
Acquisitions Limited, a company listed on the London Stock Exchange
that is focused on the attractions sector. In this role, he is
responsible, together with his colleagues, for sourcing,
negotiating and executing appropriate investment or acquisition
opportunities. Mr Rieder is highly experienced in consumer
marketing having built his career creating and selling products and
services.
Richard James Baker, Non-executive Director (born 27 June 1972,
aged 44)
Mr Baker has had a distinguished career spanning over 20 years
in the digital media, telecommunications and financial services
industries. After founding Rebtec Limited, a commercial and
technical consulting practice to the digital media and
telecommunications sector, Mr. Baker, whilst acting as a
consultant, became acting CEO of Quiptel in 2012 and became
Chairman in February 2015. In the role of Chairman, he steered the
video platform software company's vision and strategy, driving the
growth, funding and development of its OTT video platform "Quiptel
Media Platform". Mr Baker resigned from this role with effect from
31 October 2016.
Having begun his career in 1991, Mr Baker has held a number of
senior level positions, playing an instrumental role in the
leadership of a number of companies in the technology and media
market space. Mr Baker most recently was a co-founder and CEO of a
regulated financial futures electronic execution-trading platform
called Cleartrade Exchange (CLTX) based in Singapore and London,
where his responsibilities involved the oversight and direction for
all aspects of strategy, development and governance. CLTX was sold
to the European Energy Exchange (EEX), a Deutsche Bourse company,
in March 2016.
In addition to his role as a non-executive Director of the
Company, Mr Baker provides his additional services to the Group
through a consulting agreement between Zero 32 Associates Limited
and the Company and is responsible for the overall strategic
roadmap of the Group, specifically focussing on brand development,
technology and product strategy and assisting the Company to
identify future possible partnerships, investors and other
acquisitions.
William Clark Kennish, Non-executive Director (born 26 May 1966,
aged 50)
Mr Kennish is a London based investment banker and adviser who
has specialised in the Telecoms, Media and Technology space for
over 20 years. Since 2013, he has been a managing director of TAP
Securities, where he advises on transactions in the Telecoms
sector, which continues to be his principal activity.
Prior to joining TAP, Mr Kennish was a Senior Managing Director
and Head of the Europe, Middle East and Africa TMET investment
banking practice at Macquarie Capital in London. From 2006 until
2010, he was a Managing Director and Head of the EMEA TMT
investment banking group at Citi. During his career, Mr Kennish has
had extensive experience in telecoms M&A and capital raising
and has advised on a variety of landmark transactions in the
sector.
Mr Kennish graduated magna cum laude from Harvard College in
1989 with a degree in history and economics and received an MBA
from the Amos Tuck School at Dartmouth College in 1994.
Senior Management
Markus Dieter Kameisis, non-board Chief Financial Officer (born
24 November 1978, aged 38)
Mr Kameisis is a Swiss-based German finance executive with over
10 years of experience in the banking and financial industry. After
graduating with a "Diplom- Kaufmann" in Auditing and Controlling
from the University of Trier, Germany, Mr Kameisis joined UBS in
Luxembourg and following promotion to Associate Director, he moved
to UBS in Switzerland where he worked on a finance IT platform
project for UBS across Europe. Afterwards, Mr Kameisis took over as
Head of Accounting of UBS Leasing AG where he was responsible for
implementation of the Basel II internal rating based approach. He
was then promoted to the Chief Financial Officer role within UBS
Swiss Financial Advisers AG, a broker regulated in both Switzerland
and the USA, serving US clients in Switzerland where he was,
amongst other things, responsible for the implementation of a new
software system, the regulatory reporting and all corporate tax
filings.
In 2013 Mr Kameisis was recruited by Gutenberg Group AG, a FINMA
regulated financial services group with a banking licence,
specifically to oversee the Gutenberg Group's finance and reporting
function. Shortly after his assignment, Gutenberg Group AG decided
to give back its banking licence and Mr Kameisis agreed to support
the group during this transition as the Chief Financial
Officer.
In August 2014, Mr Kameisis founded an outsourcing and advisory
firm for SME companies called Icelia AG, for which Mr Kameisis is
the Chief Executive Officer and a director. Currently Mr Kameisis
is Chief Financial Officer of Challenger Acquisitions Limited, a
company listed on the London Stock Exchange that is focused on the
attractions sector.
Peter Manh Hong Do, Chief Research and Development Officer (born
16 May 1975, aged 41)
Mr Do, who is a director and Chief Technology Officer of
Quiptel, based in Hong Kong, has been appointed as Chief Research
and Development Officer for the Group. Mr Do has more than 18 years
of experience in developing technology products, improving
organisational processes and integrating complex back-office
systems. Mr Do has held a number of senior technology positions
during this time. Prior to joining Quiptel in 2008, Mr Do was Chief
Technology Officer at Orbitalcom Multimedia Corporation where he
was charged with developing an encrypted voice over IP
communications system and lead a team of over thirty technical
engineers. Mr Do was also Chief Technology Officer at
Five9sNetworks where he was responsible for performing engineering
tasks in design and development leading a team of more than 10
engineers.
Sandip Sarda, CEO of Quiptel (born 22 September 1967, aged
49)
Mr Sarda, who, as Managing Director, EMEA region of Quiptel,
based in Hong Kong, is currently responsible for establishing
market entry into the EMEA region, will, upon Re-Admission and the
acquisition of the Quiptel Group, become CEO of Quiptel. Mr Sarda
is an experienced entrepreneurial senior executive with global
leadership experience and over 25 years' experience across the
Telecom, Technology & Media sectors.
Mr Sarda has presented at various conferences and was voted
among the Top 50 People in Europe by Cable and Satellite. He has a
thorough understanding of TMT with strong industry relationships
with most major technology vendors, systems integrators, studios
and content owners worldwide. He was instrumental in helping set up
the IPR exploitation process within the BT Group, through the
establishment of Asset House Technology (a spin-out of BT plc)
which was successfully sold to Amino Communications in 2008. As
Senior Vice President of Strategy & Business Development for
Amino Communications, Mr Sarda developed a solution strategy which
reduced the dependency on middleware companies and resulted in new
business, thus extending Amino's market share.
In 2010, Mr Sarda founded Exploitmedia Ltd, a specialist TMT
consulting business with a focus on the converged media space.
Exploitmedia Ltd provides business insights to the likes of Airtel
(India), BT plc, Shemaroo, and Harris Broadcast as well as working
with VCs on due diligence processes for both investments and
acquisitions. In 2011, Mr Sarda moved to Qatar to work with Ooredoo
and to help build its Media House Division and launch a TV service
in the region.
James Martin Bates, CEO of Teevee Makers (born 29 May 1956, aged
60)
Mr Bates, a shareholder (indirectly through Caladium
Corporation) of Digital Realm (the seller of the Teevee Sale Shares
under the Teevee Acquisition Agreement and the seller of the
Advertising Spots to Teevee Makers under the Advertisement
Placement Agreement) and one of the founders of Teevee, based in
the United States, has been appointed as CEO of Teevee Makers. Mr
Bates has established a successful track record in digital media,
cable, sales, distribution, marketing, and advertising in a number
of companies. Mr Bates was previously Executive Vice President at
HRTV, the start-up cable television network subsidiary of Magna
International Developments and Churchill Downs, where his
responsibilities included budget management, and the development of
the company's strategic plan. He cultivated a number of
relationships with advertisers, programmers and distributors in the
cable and satellite industries. Mr Bates was also Senior Vice
President of US and International Distribution at The Golf Channel
where he was responsible for worldwide distribution. He led a sales
and marketing team of 25 people and developed sales strategies for
the company. Most recently Mr Bates has been Principal at Blue Line
Ventures, LLC where he has advised businesses on strategies in the
digital and cable industries, including advising on the
establishment of Teevee.
THE PLACING AND USE OF PROCEEDS
The Company was formed to undertake acquisitions of target
companies, businesses or assets in, but not limited to, the mobile
and online television and video broadcasting sector with a focus on
the OTT market. The Net Proceeds of GBP3.1 million, being the gross
proceeds of GBP4 million raised through the Placing Less Costs
(GBP892,000), will be used to capitalise on the strategic key
industry trends to drive growth and pursue the Company's mission to
establish the Group as the leading OTT broadcast media solutions
company.
**ENDS**
For more information please contact:
Falcon info@falconmediahouse.com
Gert Rieder
------------------------------- --------------------------------
St Brides Partners Ltd (PR)
Lottie Brocklehurst / Isabel
de Salis / Frank Buhagiar +44 (0) 20 7236 1177
------------------------------- --------------------------------
Nuovo Capital LLP (Financial
Adviser and Joint Broker)
Simon Leathers / Anthony
Rowland +44 (0) 20 3515 0230
------------------------------- --------------------------------
Shard Capital Partners LLP +44 (0) 20 7186 9952
Damon Heath damon.heath@shardcapital.com
Erik Woolgar +44 (0) 20 7186 9964
erik.woolgar@shardcapital.com
------------------------------- --------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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