Media & Telecom Corporation Ltd.
Company Continues To Consolidate VOD Industry To Improve Entertainment Options For
Hotels As Latest Acquisition Comes Just Months After General Dynamics Transaction
|NEEDHAM, MA & SYDNEY, AUSTRALIA NOVEMBER
11TH 2005 - KoolConnect Technologies Inc., a leading provider of digital
interactive entertainment solutions for the hospitality industry, today
announced that it has acquired the majority of the assets of Entertainment
Media & Telecom Corporation Ltd., a leading public, Australia-based
provider of in-room entertainment systems and solutions for the hospitality
industry. In the transaction, KoolConnect will assume the contracts
to directly service several thousand hotel rooms in the United States and
abroad as well as a large amount of technology and content.
“We’re not only thrilled to be able to complete this acquisition for our company and our shareholders, but we’re also excited about the positive impact this has on the hotel marketplace in general,” said Matt Hutchins, CEO of KoolConnect. “It has become perfectly clear to hoteliers across all spectrums of the market that innovative in-room digital entertainment is the industry’s next ‘must–have’ amenity. Following our acquisition of the only proven High Definition platform in the industry just a few months ago and now the purchase of EMT’s operations, KoolConnect has firmly solidified our position as the ‘go to’ company for hotels that are clamoring for new options for in-room entertainment,” added Hutchins.
Founded in 1999, KoolConnect is one of just a handful of “new media” companies to have weathered the dot-com collapse, post-9/11 travel recession and online disintermediation crisis that hindered the hospitality industry over the past four years. In fact, KoolConnect has not only survived during this time, they have actually thrived. In the past year alone, KoolConnect has grown dramatically and has ramped up their investment in new technologies and capabilities. Earlier this year, the company completed the acquisition of General Dynamics Interactive and has established firm leadership positions in HD in-room entertainment as well as in the ability to serve hotel companies wherever in the world they operate as the world’s most geographically diverse in-room entertainment provider. Today, the company serves a variety of prestigious properties for brands including Mandarin Oriental, Park Hyatt, Radisson, W, Sheraton and more in cities ranging from San Diego and New York City to Dubai and Hong Kong. “And while others in the industry are just beginning to tinker with HD, KoolConnect remains the leader in this area with over 4,000 fully HD rooms deployed worldwide, and a pipeline of several thousand additional HD rooms under contract,” said Hutchins.
Hutchins continued, “The hospitality industry, from bedding to CRM, is evolving at an incredible rate. Nowhere is this more evident than in terms of entertainment. Last year alone, sales of digital and HD televisions increased 50% and as travelers increasingly add these new technologies in their homes, not to mention surround sound systems and digital VOD, they are demonstrating that they expect the same offerings when they’re in a hotel. This acquisition of EMT’s operations allows KoolConnect to expand our ability to help hotels to meet the changing demands of the modern traveler.”
ABOUT KOOLCONNECT TECHNOLOGIES, INC.
|Also See:||First HDTV, now nPVR – KoolConnect Again Raises the Bar for In- Room Entertainment / November 2005|
|Unisys and KoolConnect Partner to Offer Digital Video-on-Demand Services for Hotel Guests New Solution Includes Revenue Sharing Business Model / May 2004|