Vimio, the mobile streaming and compression company based in Dublin, has entered into a joint venture, through a newly incorporated company VEE, with Nichols Ltd., a British Virgin Islands registered company to commence operations in the Ukraine. Nichols will invest $2 million in VEE to establish an operations centre in Kiev, in return for a 50% equity stake in VEE. Vimio has granted a software licence to VEE enabling it to exploit Vimio’s technology to provide content to mobile network operators in the Ukraine market. VEE’s head office will be located in Kiev.
VEE intends to enter into revenue sharing agreements, for live TV and other content, with the TV Channels and mobile network operators in the region, for delivery over existing GSM networks.
Related: Microsoft To License Its IP To Vimio
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