Asia: Investment by NxGen Communications in MVI
Asia's leading provider of entertainment solutions to the hospitality industry, is pleased to announce that NxGen Communications Pte Ltd ("NxGen"), has become a 25.19% shareholder in the company following the subscription to new shares.
Anke Gill, Managing Director of MVI said: "We are delighted to have concluded this transaction to welcome NxGen as a strategic shareholder. This new investment will help accelerate our growth and broaden our service offerings, and we look forward to working together."
Gerald Ng, NxGen's Managing Director said: ""MVI is one of the leaders in providing IPTV-based entertainment solutions for the hospitality industry with a strong customer base in Asia. As their products are complementary to NxGen's unified communications solutions, we believe this strategic investment will enable us to broaden our scope of services for our customers in the hospitality segment. It will also present us with the opportunity to pursue new customers through cross selling opportunities."
Hong Kong-headquartered MVI Systems Ltd is a leading provider of IPTV-based entertainment solutions for hotels, hospitals, multi dwelling units and enterprises across Asia and the Middle East. MVI implements its solutions together with leading in-country partners, thereby guaranteeing fast responses and on the ground support for our customers. MVI's industry-leading solutions have been implemented in close to 20,000 rooms with hotel brands such as Intercontinental Hotels, Crowne Plaza, Holiday Inn Express, Shangri-la, W, Westin, St Regis, Hyatt and many others.
About NxGen Communications Pte Ltd
NxGen Communications Pte Ltd ("NxGen") is a leading managed services provider and systems integrator for infocomm solutions in Asia. The company partnered with technology leaders such as Avaya to offer turnkey infocomm solutions including IP telephony, unified communications and contact centre as well as a full range of consultancy and managed services.
About TeleChoice International Limited
TeleChoice International Limited ("TeleChoice") is a regional diversified provider and enabler of innovative info-communications products and services. Incorporated in Singapore on 28 April 1998 and listed on the Mainboard of the Singapore Exchange Securities Trading Limited ("SGX-ST") on 25 June 2004, TeleChoice is a subsidiary of Singapore Technologies Telemedia Pte Ltd, a strategic investor in communications, media and technology businesses around the globe.
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