UST Global announces $2M investment in US based xTV

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Trivandrum: UST Global, the Technopark based IT services company, today announced a two million dollar strategic investment into Silicon Valley based xTV, a pioneer in the new Media as a Service (MaaS) sector. This investment comes at a time when UST Global is in the news for their alleged laying off of over 1,000 employees across their centres in India.

In additional to the investment, UST Global and xTV will partner to bring MaaS to Fortune 1000 companies across the US. This is a strong synergy of xTV’s technology and UST Global’s scale to further boost the adoption and expansion of .TV.

xTV offers a real time platform for companies and individuals looking to integrate their social needs, custom built on their own .TV network. In one instantaneous feed, a personal or companywide .TV network will update tailored selections from Youtube, Twitter, news services, weather accounts and much more. TV is the next evolution of the ‘website’, and xTV is pioneering this evolution.

Tony Velleca, CIO of UST said, “Enterprise Media is a tidal wave of new opportunity, evidenced by xTV’s strong customers and partners such as Microsoft, Intel & AOL. 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.”

UST Global sees a huge opportunity in this space. This investment will enable xTV to scale up the demand for .TV with new customers. xTV and UST Global customers can 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 of xTV said, “Having UST Global as our strategic investor and go-to-market partner significantly expands our reach into the global enterprise. xTV and UST’s customer base will see a significant acceleration in the xTV network offering.”

Kerala IT News

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