SOURCE: International Datacasting Corporation

International Datacasting Corporation

November 17, 2015 08:00 ET

International Datacasting Corporation Announces Completion of Video Contribution Asset Sale

OTTAWA, ON--(Marketwired - November 17, 2015) - International Datacasting Corporation (TSX: IDC) is pleased to announce that it has closed its previously announced asset sale of the Corporation's video contribution product line to DTV Innovations, LLC ("DTV") for US$0.7 million (or CAD $0.9 million). IDC received a cash payment of US$0.5 million (CAD $0.6 million) and it executed a secured promissory note with DTV for the remaining balance of US$0.2 million (or CAD $0.3 million) to be paid within the next 12 months.

Following the completion of the asset sale, IDC continues to be focused on building on its core Datacast XD™ and Datacloud XD™ file-transfer technology and its unique expertise in Audio, Video and IP through:

  • STAR Pro Audio™, a market-leading solution for advanced regionalization of ads and programs for radio broadcasters while reducing bandwidth costs by up to 70%;
  • IDC LASER™, a ground-breaking solution for video broadcasters for increased revenues and flexibility of video programming based central management and in-band delivery of content to the high-density broadcast ad & program insertion LASER Multi Program Splicer (LASER MPS);
  • Pro Data, a well-known point to point solution for broadcast delivery of files and streams at speeds over 150Mb/s, for secured, reliable, guaranteed data transmission aimed at a diverse range of large enterprise, government and military applications; and
  • Pro Cinema, a best-in-class solution for digital cinema and live content delivery platform, enabling global single to multi-point real time distribution of movie and live performance content to theatres and event owners globally.

About International Datacasting Corporation:

International Datacasting Corporation (TSX: IDC) is a global technology provider for the world's premiere broadcasters in radio, television, data and digital cinema. IDC's products and solutions are in demand for radio and television networks, targeted ad insertion, digital cinema, 3D live events, VOD, and IPTV. IDC is headquartered in Ottawa, Canada. For more information visit: www.datacast.com.

Contact Information

  • CONTACT:
    Steve Archambault
    Executive VP & CFO
    International Datacasting Corporation
    +1 613 596 4120 Ext. 2296
    sarchambault@datacast.com