BUFFALO, N.Y. and QUITO, Ecuador, Aug. 13, 2013 (GLOBE NEWSWIRE) -- Synacor, Inc. (Nasdaq:SYNC), the leading provider of next-gen startpages, award-winning TV Everywhere solutions and cloud-based Identity Management (IDM) services, across multiple devices for cable, satellite, telecom and consumer electronics companies, today announced it has been selected by Grupo TVCable Ecuador, Ecuador's largest cable operator and founding member of TEPAL, for consumer portal and email services; trials commencing later this year with TV Everywhere in phase two. This agreement cements Synacor's commitment in Latin America, bringing content, personnel and, eventually infrastructure to the market.
Synacor's partnership with Grupo TVCable Ecuador marks the company's most significant foray into Latin America. With approximately 50 million high-speed Internet households in Latin America, there is a clear opportunity for Synacor to expand its reach in Ecuador and beyond. According to the Latin American Council of Multichannel Advertising (LACMA), pay-TV grew in all Latin American countries in the past year, and today more than 55 percent of Latin Americans have access to the pay-TV (April, 2013). This number is expected to increase in coming years. And the mobile market is red hot, projected by Informa Telecoms & Media to grow 7.1 percent this year, totaling 742 million active mobile subscriptions.
"Providing our customers with world-class portal and email services is of vital importance to Grupo TVCable Ecuador, and we're particularly excited about the opportunity to entertain and inform our high-speed Internet subscribers," said Grupo TVCable Ecuador CEO Jorge Schwartz. "Our relationship with Synacor is valuable in providing Grupo TVCable Ecuador further opportunities to cross promote many of our services to our customers, keeping them entertained, engaged and loyal. We select and invest in leading technology firms that give us sustainable competitive advantages. We have started the trial planning, scheduling and early execution steps. Our early look at Synacor's platform and its capabilities is both reassuring and promising. Welcome, Synacor, to Latin America."
"With Latin America not only one of the fastest growing and largest economies in the world, but also surging in high-speed Internet use and mobile device proliferation, Synacor is thrilled to have a partner in the marketplace, Grupo TVCable Ecuador, one of the largest and most influential providers in Latin America," said Synacor CEO, Ron Frankel. "We're honored to help Grupo TVCable Ecuador provide their subscribers with incomparable portal and email services, increasing their enjoyment while also ultimately increasing their ARPU. The region's rapid high-speed Internet adoption and mobile device escalation offers a unique opportunity for Grupo TVCable Ecuador to introduce the multi-screen experience to its subscribers, so they can access their email, special services and favorite content when they want, where they want, and on the device of their choosing."
As part of the trial, Grupo TVCable Ecuador's high-speed Internet subscribers will gain access to the consumer-facing, Spanish-language portal. Synacor's email services will be available to new subscribers.
Synacor's next-gen startpages offer pay-TV providers an end-to-end tech solution that's branded, customized and revenue-generating, while simultaneously increasing satisfaction, loyalty and engagement among their subscribers. Providers can deliver content, services and apps to their consumers across multiple devices, any time, anywhere. For more information on Synacor and its next-gen startpages, please visit synacor.com or email email@example.com.
Synacor's white-label platform enables cable, satellite, telecom and consumer electronics companies to deliver TV Everywhere, digital entertainment, cloud-based services and apps to their end-consumers across multiple devices, strengthening those relationships while monetizing the engagement. Synacor (Nasdaq:SYNC), is headquartered in Buffalo, NY. For more information, visit synacor.com.
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About Grupo TVCable Ecuador
Grupo TVCable Ecuador is the country largest services provider funded 100% with Ecuadorian capital to provide multimedia services, telephony, and high-speed Internet throughout the country major cities. TVCable Ecuador was established in 1986, and currently operates in more than 20 cities with dominant presence in the capital Quito, the country commercial hub Guayaquil and anchor cities such as Cuenca, Salinas and Manta.
The Group owns and operates affiliates in the TV and high-speed Internet sectors – TV Cable; Telephony sector – SETEL; and provide wireless WIMAX capabilities to businesses and enterprises.
This release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the current expectations or beliefs of management of Synacor, and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive, technological and/or regulatory factors, and other factors affecting the operation of the respective businesses of Synacor. More detailed information about these factors may be found in filings by Synacor, as applicable, with the Securities and Exchange Commission, including their respective Quarterly Report on Form 10-Q. Synacor is under no obligation to, and expressly disclaims any such obligation to, update or alter their respective forward-looking statements, whether as a result of new information, future events, or otherwise.
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