2UP Gaming PLC Agrees to Acquire Streamark PLC
NEW YORK, Feb. 1, 2013 (GLOBE NEWSWIRE) -- UK based 2UP Gaming PLC (GXG:2GM),
operators of a leading online gaming website www.2UP.com, has announced that
they have executed an agreement to acquire Streamark PLC. The acquisition has
strategic importance, as it accelerates the delivery of the 2UP "live deal"
technology across multiple platforms.
"The Streamark technology gives 2UP a significant competitive advantage
because of 2UP's expanded ability to deliver a number of our live gaming
products directly to mobile phones and tablets. However, the biggest advantage
of Streamark is its positioning and technology within the exploding internet
protocol TV (IPTV) market, and our ability to license those products,"
according to Mr. Peter Flynn, 2UP's Business Development Director.
The number of global IPTV subscribers is expected to grow from 28 million in
2009 to 83 million in 2013-- with market revenues forecast to grow from US$12
billion to $38 billion in the same period. Emerging markets such as China and
India have embraced new smart phone technologies and created enormous
opportunities with limited bandwidth.
"Streamark's technology can deliver HD video streaming using as little as
2mbps, compared with 20mbps for standard broadcast or 8mbps from one of the
existing top mobile streaming technologies," said 2UP's CEO Marino Sussich.
"Emerging markets such as China and India have embraced new smart phone
technologies and created enormous opportunities with limited bandwidth."
MidOil USA's Managing Director Vincent Crandon, who recently announced a US$75
million financing commitment for 2UP, commented that, "The Streamark
technology will facilitate a seamless delivery of the 2UP gaming content, and
we look forward to the platform's initial implementation in our planned
Atlantic City, NJ datacenter should the internet gaming bill presently being
considered by New Jersey Governor Chris Christie be approved."
About Streamark PLC
Streamark develops applications based on streaming video, tracking and
communications technologies for mobile telecom operators, TV network and cable
operators and hardware manufacturers. Its unique live video streaming
technology can be used across a wide range of handsets such as Apple, Android,
Symbian, Blackberry and WinMobile, running on mobile bandwidths EDGE, GPRS, to
3G and 4G. http://www.streamark.com
2UP Gaming PLC (GXG: 2GM) is a UK based publicly held provider of leisure and
entertainment products in the gaming, wagering and lotteries segments of the
gambling industry. Through www.2UP.com customers can access all gaming,
wagering and lottery products from one website.
Vincent Crandon MidOil USA--New York tel 201-962-2799
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