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News  2, Aug 2012

PurpleStream sees investments from Hub Media Group and Mercatus Capital, will move HQ to Singapore

Chennai-based startup, PurpleStream Convergence, has announced its plan to move its headquarters to Singapore for the worldwide launch of Broadband Video delivery platform, better known as PurpleCloud. At the same time, the company has secured new investments from Hub Media Group and Mercatus Capital to fund its “Go to Market Strategy”.

Broadcasters on the Indian subcontinent have been impressed over the last half a year. Due to its Adaptive Bit Rate Optimisation and Single Source Multi Device (SSMD) technology, PurpleStream provides smooth delivery of High Definition video to consumers in US, Canada, UK and Australia. This is an achievement as PurpleStream’s platform offers a dramatic shift in smooth delivery of Live Events and Video on Demand to customers on any device, any platform and any geography at a fraction of the cost of current delivery systems. Incomparable to its competitors, PurpleCloud provides an over the top experience for users in viewing videos on mobile devices.

According to the founder and CEO Karthikl Subramaniam, “PurpleStream has begun to aggressively ramp up its service offering to global Broadcasters, Content Aggregators and Over the Top (OTT) Content Providers. This is an opportune time to relocate our HQ and take advantage of Singapore’s status as a major Media hub. We are in discussions with various Government Agencies, Content Delivery Networks (CDNs) and Content owners to leverage PurpleStream’s end to end low cost video delivery platform through the PurpleCloud.”

When asked to comment on the investment, Kevin Balhetchet, CEO of Hub Media Group says “This strategic investment in PurpleStream gives Hub Media Group access to a fantastic broadband content delivery platform through which we can bring value added services to our customers. We have already started working with PurpleStream on several projects in Hongkong, Malaysia, Philippines, Indonesia, and Mexico for the delivery of TV shows and movies across multiple territories.”

Being able to broadcast Live Events has made PurpleStreams’s SSMD technology both unique and intriguing. There has been a positive rising interest from sports events promoters, educational and religious institutions, and multinational corporations for the broadcast of keynote speeches and new product launches. PurpleStream plans to extend its partnership across Asia to provide Live Event broadcasts to a global audience.

Read the full press release below.

 

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 SINGAPORE – Aug 01, 2012 / (http://www.myprgenie.com) — Chennai based startup PurpleStream Convergence announced today its plans to relocate its headquarters to Singapore for the global launch of PurpleCloud(TM)- its Broadband Video delivery platform. The move coincides with new investments secured from Hub Media Group and Mercatus Capital to fund the Company’s “Go to Market Strategy”.

Over the last 6 months PurpleStream has been wowing broadcasters on the Indian subcontinent. Its Adaptive Bit Rate Optimisation and Single Source Multi Device (SSMD) technology offers smooth delivery of High Definition video to consumers in US, Canada, UK and Australia. PurpleStream’s platform provides a quantum shift in the smooth delivery of Live Events and Video on Demand to customers on Any Device, Any Platform, and Any Geography at a fraction of the cost of current delivery systems. PurpleCloud(TM) provides an unparalleled user experience in viewing videos on mobile devices.

Founder and CEO Karthik Subramanian said, “PurpleStream has begun to aggressively ramp up its service offering to global Broadcasters, Content Aggregators and Over the Top (OTT) Content Providers. This is an opportune time to relocate our HQ and take advantage of Singapore’s status as a major Media hub. We are in discussions with various Government Agencies, Content Delivery Networks (CDNs) and Content owners to leverage PurpleStream’s end to end low cost video delivery platform through the PurpleCloud(TM).”

Commenting on the investment, Kevin Balhetchet, CEO of Hub Media Group said, “This strategic investment in PurpleStream gives Hub Media Group access to a fantastic broadband content delivery platform through which we can bring value added services to our customers. We have already started working with PurpleStream on several projects in Hongkong, Malaysia, Philippines, Indonesia, and Mexico for the delivery of TV shows and movies across multiple territories.”

A key area where PurpleStream’s SSMD technology has unique capabilities is in the broadcasting of Live Events. There has been growing interest from sports events promoters, educational and religious institutions, and multinational corporations for the broadcast of keynote speeches and new product launches. PurpleStream is looking to work with partners across Asia to deliver Live Event broadcasts to a worldwide audience.

About PurpleStream Convergence Pte Ltd  (www.purplestream.in)

PurpleStream Convergence is positioned to be the leading company in Video content delivery. Its paradigm shifting technology delivers HD quality video to Any Network, Any Device in Any Territory at a massive cost advantage. Combining Adaptive Bit Rate Optimisation with Single Source Multi Device (SSMD) Technology PurpleStream ensures seamless delivery of Live Broadcasts and Videos on Demand for its growing list of customers who include TV broadcasters, Channel Content Aggregators, and OTT providers.

About Hub Media Group Pte Ltd (www.hubmediagroup.com)

Hub Media Group (HMG) is a leading content distributor in Asia with an extensive library of TV shows, Formats, TV Novellas and Movies. Apart from popular formats like Academy Fantasy, HMG collaborates with partners in Asia and South America to co-develop, finance and market new TV shows and movies. HMG constantly engages with new technologies to ensure a compelling entertainment experience for its audience.

 About Mercatus Capital Pte Ltd (www.mercatus-capital.com)

Headquartered in Singapore, Mercatus Capital is Asia’s premier Angel Investor, Incubator and Business accelerator. It aims to provide early stage support to promising entrepreneurs with ideas and technology that are disruptive and paradigm shifting. Beyond providing the seed funding, Mercatus undertakes an active incubation programme to groom the top management to adopt a global outlook and to prepare the companies to become major players in the global market place.

With support from SPRING Singapore the portfolio has grown to over 40 promising companies at various stages of incubation covering a diverse set of industries including Healthcare, ICT, Social Media and Material Sciences.

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Winnie Nelson

Winnie Nelson

Winnie is currently a TESL undergraduate from the University of Malaya. She used to write English articles for a number of Malaysian newspapers and has won several awards for her writing. Passionate in languages, she speaks several Chinese dialects, as well as English and Bahasa Malaysia. Currently a distinction class student, she aspires to undergo a fast-track program and receive her PhD by the age of 27. A black belt holder in TaeKwonDo and a fan of good bubble milk tea.

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