Business Services Industry
Multiband Enters into Distribution Agreement with Hoteleguide to Provide Channel Guide Services
Business Wire, Feb 20, 2007
Company to Receive Monthly Recurring Revenue
MINNEAPOLIS -- Multiband Corporation, (NASDAQ: MBND), a leading provider of video, data, and voice systems and services to multiple dwelling units, announced today that it has entered into a distribution agreement with Hoteleguide to provide channel guide services through its national system operator program. This agreement will allow Multiband's operators to offer a channel lineup solution for the SMATV services they currently provide. In addition to enhancing existing services,,Multiband and Hoteleguide will generate recurring revenue from the creation of the channel guide, and will provide operators with the necessary equipment and technical support.
The service will be deployed within the multiple markets Multiband operators currently support. This includes hotels, hospitals, resorts, and multi-dwelling units. Executive Vice-President, Kent Whitney said, "We are excited about the Hoteleguide platform and the opportunity it provides to our System Operators. There is a great demand for this service throughout the country and the Hoteleguide solution is a natural fit for several of our business models."
In addition to the programming services Multiband currently supports, operators will now have an additional solution to offer their customers. Multiband will begin working with operators immediately to effectively deploy the new channel guide solution.
About Multiband Corporation
Multiband Corporation, formerly Vicom, Incorporated, formed in 1975, provides voice, data and video systems and services to multiple dwelling units (MDUs), including apartment buildings and time share resorts. The Company's products and services are sold to clients located throughout the United States. For additional information, please go to www.multibandusa.com. Multiband is an exclusive DIRECTV Master System Operator and one of the largest providers of DIRECTV Services to apartments, lodging, hospitality locations, restaurants and timeshare resorts in the United States.
Statements included in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of risks and uncertainties such as competitive factors, technological development, market demand and Company's ability to obtain new contracts and accurately estimate net revenues due to variability in size, scope and duration of projects, and internal issues in the sponsoring client. Further information on potential factors that affect the Company's financial results; can be found in the Company's Registration Statement and in its Reports on Forms 8-K filed with the Securities and Exchange Commission (SEC).
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