Patriot Acquires Stake in Avot To Cash in on Mobile Boom
ADOTAS – Patriot Scientific Corp. has acquired a 20% stake in mobile video shop Avot Media in the wake of an expected boom in the video-enabled mobile market.
“Industry projections have indicated that video-enabled handsets will increase from less than 5% of the market today to more than 70% within a few years,” said Paul Bibeau, vice president of business development. “Avot Media has differentiated technology and is making excellent progress with potential carrier customers in field trials. Initial revenues are expected from opportunities in Asia and Europe as the global marketplace is primed for the deployment of video to mobile devices.”
Patriot also hopes to leverage the investment as a way to grow its data-sharing focus beyond just text.
“This investment expands Patriot Scientific’s focus on data sharing beyond text to include this important newly developing video sector,” Bibeau said. “We are confident that Avot Media’s technology provides a significant positive experience for the end user, eliminating the latencies and interrupted delivery of video content that exists with today’s solutions. Avot Media’s technology is right on target with Patriot Scientific’s pursuit of cutting edge, significant software, for wireless and networking applications.”
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