OTT-ONE has concluded its first billion forint contract and announced a public transaction

OTT-ONE has concluded the largest contract of its operation to date – nearly 2 billion Hungarian forint. According to the contract, the company is implementing innovative IT and security technology developments for a Hungarian customer. The management of the listed company has also decided that due to increased investor interest, the company will issue 5 million shares on the Budapest Stock Exchange.

OTT-ONE has reached a milestone by concluding its first billion forint IT contract with a Hungarian customer. The contract amounts to a total of HUF 1 935 million (over EUR 6 million), well above the value of the company’s total turnover last year. The agreement is about advanced and innovative IT and information security developments. Some parts of the development work will be completed in 2020, but the company expects that more than half of the developments will be completed this year. During the development period, OTT-ONE will utilize its own secured and qualified server park.

In June this year, the company informed its investors that it would start a public auction on the Budapest Stock Exchange, at which it would sell its own shares. However, following the announcement of the transaction, the investor interest increased. Thus, the management considered that it could raise a larger amount of capital in order to achieve higher growth and development.  The 3 million shares offered for sale at the public auction seemed to be limited, therefore, the management is planning to sell approximately 5 million shares. Since that amount of shares cannot be provided by iSRV PLC the company will raise capital by a public offering.

OTT-ONE announced a public auction

In accordance with previous plans, following a preparation period, OTT-ONE will begin to conduct a capital market transaction, selling its own shares through a public auction at the Budapest Stock Exchange. During the transaction OTT-ONE will offer 3 million of its own shares for auction. The company intends to use the capital, raised from the public transaction, to finance potential investments, projects, and general growth. Furthermore, as a result of a successful transaction, the company will be able to enter the BSE’s Premium category later on, following an appropriate preparation time. During the transaction OTT-ONE’s investment service provider will be Equilor Investment Ltd.

At the time of the auction the main shareholder, iSRV PLC will provide the necessary shares according to a loan agreement. At the auction OTT-ONE has to sell the shares at a minimum of HUF 250, as this is one of the conditions of the agreement with iSRV. However, if the current price is higher than HUF 250 prior to the auction, then OTT-ONE’s goal is to execute the transaction at the higher rate to avoid selling below the market price. Following the auction, the shares will be returned to iSRV. The transaction was provided by iSRV without any interest or profit.

The transaction serves two purposes: on the one hand, the company intends to finance its future growth plans while, on the other hand the last condition of transferring to the Premium category could be fulfilled as well.

The advantage of the transaction is that the execution is less time-consuming compared to other type of public transactions, therefore, the investors can get the purchased shares sooner. The auction is expected to take place in September 2019.

OTT-ONE’s ordinary shares have been transferred to the Standard category

In terms of capital market presence, OTT-ONE reached a major milestone: the company’s common stocks have been transferred from category T to the Standard category at the Budapest Stock Exchange. The conditions have been fulfilled by far and this step is an important pillar of further growth plans.

OTT-ONE’s ordinary shares have been transferred to the Standard category of the Budapest Stock Exchange on 16 May. OTT-ONE requested the reclassification after the modification of the BSE’s General Business Regulation on May 2, 2019. According to the modification, it is no longer necessary to have a public transaction in order to be listed at the Standard category.  OTT-ONE was the first issuer to complete the reclassification.

The management’s medium-term goal is to be listed at the Premium category, the only condition which has not been fulfilled yet is an at least HUF 100 million public transaction. The preparation for this transaction is currently in progress. After the public transaction, the company will apply for the reclassification to the Premium category with careful preparation.

The progress is also justified by the results of the company. The company achieved its best results so far in 2018, as its revenue increased (by HUF 548.6 million) to HUF 1.7 billion. The profit was even more impressive: it increased from HUF 111.4 million to HUF 215.5 million.

 

OTT-ONE is collaborating with the International Training Centre

OTT-ONE has signed a cooperation agreement with the International Training Centre – supervised by the National Police Headquarters. Within the framework of the partnership, OTT-ONE provides support through trainings focusing on cybercrime, and effective action against the phenomenon. With OTT-ONE’s experience and practical knowledge of blockchain, the main purpose of the collaboration is to provide preparation for law enforcement students in terms of public security challenges.

The International Training Centre (ITC) was founded by the Hungarian Ministry of Interior in 1999. It offers special training opportunities for Hungarian and foreign law enforcement employees, providing the opportunity to learn about the latest challenges of public security and acquire best practices while supporting long-term international networking.

According to the cooperation agreement, using its expertise, OTT-ONE supports trainings that are organized in cooperation with the International Training Centre. The focus of the trainings is one of the most recent challenges that public security is facing with: cybercrime. OTT-ONE has gained a lot of experience in that area due to the company’s blockchain business unit. The International Training Centre has chosen OTT-ONE as its new partner after a formerly similar but recently terminated cooperation.

During the trainings OTT-ONE will be represented by Gergely Vesszős, a blockchain expert who joined the company at the end of last year. He is responsible for the ongoing blockchain developments as well as the professional leadership functions of future blockchain-based developments.

It is an honor for OTT-ONE to support the trainings of International Training Centre that provides the highest standards of law enforcement. Since the company has extensive experience in the field of blockchain technologies, the challenges of cybercrime as well as the possible solutions are continously studied. OTT-ONE places a lot of emphasis on knowledge sharing while creating value, as education is essential for the safe use of future technologies.

OTT-One develops a document management system based on blockchain technology

OTT-One has received an order worth approximately HUF 280 million from DocFinIT Ltd. for the execution of design and development of a document management system based on blockchain technology. In addition, under the contract, OTT-One also got resale rights for the blockchain based document management system.

The contract consists of two parts: first, OTT-One undertook to execute the technical design of the blockchain based document management system. Then, the development of components based on blockchain technology and the various IT security backend modules will begin.

Thanks to the developments, a document management system with high-tech security solutions will be created. Due to these developments, it is impossible to exchange or to garble the documents.  Furthermore, as a result of the improvement the permission settings won’t be possible to modify without a trace.

According to Gergely Vesszős, blockchain expert of OTT-ONE, the combination of blockchain-based security technology and document management solutions could result in a highly secure system which provides an effective answer against present challenges related to safe document management.

OTT-ONE receives license for defence-related activities

OTT-ONE has been granted activity license for the development and production of defence-related goods and services by decree of the Department of Trade, Defence Industry, Export Control and Precious Metal Assay of the Government Office of the Capital City Budapest.

With the activity license we have become eligible for the production and development of defence-related instruments and the offering of defence-related services. We now have the opportunity to become an active player in the industry, enabling us to further strengthen the position for our security technology business arm” – stated Balint Majer, president and CEO of OTT-ONE.

OTT-One has successfully qualified for the Official NATO Supplier title

OTT-One has successfully qualified for the Official NATO Supplier title based on the decision of the Minister of Defence of Hungary. Our profile is now included in the public list of suppliers on the NATO Supplier Information Webpage.

The Hungarian board of the NATO Security Investment Programme (NISP) examined whether OTT-One fulfils the eligibility requirements related to our references, organizational structure and finances, and found that we meet all the criteria.

The qualification is an important step in the history of OTT-One as the company will be eligible to participate in future bids financed by the NISP announced by the Minister of Defence of Hungary.

OTT-One streams for Sony in four countries

Budapest Stock Exchange listed OTT-One and Columbia Pictures Corporation Limited have started a strategic collaboration. As per the terms of the agreement, OTT-One will provide the technology for the new „Sony Networks” video streaming application launched by the subsidiary of Sony Corporation in Central Europe.

Columbia Pictures Corporation Limited, the subsidiary of Sony Corporation is a company with interests in movie production and distribution. The agreement with OTT-One states that until 31 August 2019, the Hungarian IT company will be the technology provider of the new „Sony Networks” application in four countries of the Central European region: Hungary, the Czech Republic, the Republic of Poland and Romania.

Sofware solutions have a distinguished role in the field of on-demand and online video streaming, both in terms of hardware efficiency and the reliability of the service. This strategic partnership underpins OTT-One’s expertise in streaming technology, which is outstanding not only in Hungary, but in international markets as well.

OTT-One Nyrt. has signed a long-term strategic agreement a month ago with leading Hungarian media company TV2 Group for the development and operation of the „Spíler Extra” application, which is planned to be a live broadcasting mobile platform with a primary focus on sports. The company has been providing the technological background for the Telenor MyTV app for three years, maintaining a reliable service for the telecommunications company and its users with exceptional quality by international comparison.

OTT-One and TV2 Group sign long-term strategic agreement

After more than one and a half years of negotiations, a long-term strategic partnership was formed between OTT-One Nyrt. and leading Hungarian media company TV2 Group with the goal of developing and operating “Spíler Extra”, a video streaming application. The new application will offer live sports content on mobile platforms. TV2 Group has chosen OTT-One as a strategic partner based on a complex international market analysis. The new long-term agreement means great business potential for the company, as most prominent streaming technologies are connected to mobile-based live sport broadcasting.

OTT-One Nyrt. has accumulated great expertise in streaming technologies –it currently provides technical background to Telenor MyTV, thus demonstrating proficiency of their word-class high-tech solutions. The company is continuously developing unique, flexible and integrated streaming services that can easily be adopted for different purposes and audience needs: the services of OTT-One are now present in the fields of e-learning and e-sports as well.

AQAP 2110:2016 + 2210 certificate

Our company has received the AQAP 2110: 2016 + 2210 certificate issued as a result of a successful AQAP audit. This document confirms that our company’s IT operation system and software development areas of activities are based on a quality management system that meets NATO requirements. The certification was issued in March 23, 2018 and is valid until March 22, 2021.