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Mirada jumps as it enters new and highly promising market with Bolivia contract

Last updated: 00:50 07 Oct 2017 AEDT, First published: 17:22 06 Oct 2017 AEDT

TV screen
The roll-out is planned over five years, targeting up to 1mln devices

Digital TV services specialist Mirada Plc (LON:MIRA) saw its shares jump nearly 5% higher today on news it has won its second new contract in as many months for its Iris multiscreen solution.

In afternoon trading, Mirada shares were up 4.7%, or 0.05p at 1.12p.

The five year deal is with Bolivian pay TV operator and broadband services provider, Digital TV Cable Edmund S.R.L , and will see Mirada deploy its entire suite of Iris products, including its over-the-top (OTT) platform and back-end application.

READ - Mirada now has its strongest pipeline thanks to successful Televisa roll-out

At the end of August, the group won a contract with NASDAQ-listed ATN International Inc (ATNi), which operates in the US and Caribbean under trade names such as Comnet, Choice and GT&T.

"This represents the second new contract win for Mirada in less than two months and demonstrates the successful conversion of Mirada's extensive pipeline of opportunities for our powerful multiscreen product, which has been growing its number of first-class reference deployments over the last few years," said a delighted José Luis Vázquez, Mirada's chief executive.

"We look forward to providing Digital TV Cable's subscribers with the ultimate viewing experience, while also further consolidating our presence in the fast-growing Latin American market."

WATCH: Mirada PLC makes move into Caribbean with big new ATN International contract

The roll-out is planned over five years, targeting up to 1mln devices.

The deal is based on the firm's new Software as a Service (SaaS) revenue model, so Mirada will receive long-term recurring revenue streams.

The company will also receive monthly revenues from subscriber-based licence fees and the potential ongoing deployment of new features and services.

Bolivia is the fastest-growing telecoms market in Latin America with total telecom revenues expected to reach US$1.5bn in 2019, according to reports.

With Bolivia's pay TV household penetration rate predicted to grow from 10.9% in 2014 to 27.1% by 2019, this project will see Mirada entering into a new and highly promising market.

 -- updates share price --

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