China Digital TV and Intel Capital Jointly Announce Investment in Beijing JoySee TechnologyWednesday, August 3rd, 2011
BEIJING — China Digital TV Holding Co., Ltd. (NYSE: STV) (“China Digital TV” or the “Company”), the leading provider of conditional access (“CA”) systems to China’s expanding digital television market, and Intel Capital, Intel Corporation’s global investment organization, today jointly announced an Intel Capital investment in Beijing JoySee Technology Co., Ltd (“JoySee”), a subsidiary of China Digital TV.
Established in 2011 as a subsidiary of China Digital TV, JoySee is engaged in the research and development of high-definition (HD) smart TV/cable smart set top boxes (“STB”). The funding from Intel Capital will be used to further develop JoySee’s HD smart TV and cable smart STB products, which will use Intel® Atom™ processor CE4100 to provide end users with a highly secure and reliable HD experience. Intel Capital will appoint an authorized representative to observe on JoySee’s board of directors.
Mr. Jianhua Zhu, chairman and chief executive officer of China Digital TV; Mr. Arvind Sodhani, executive vice president of Intel and president of Intel Capital; Mr. Ian Yang, president of Intel China; and Mr. Jun Hong, chief executive officer of JoySee, attended the press conference in Beijing.
“We are delighted to work with Intel Capital on JoySee, which is developing the next generation of smart TV and cable smart STB products in China. This investment deepens our strategic collaboration with Intel, strengthens our shared vision for the future of digital TV in China and builds on our cooperation that started since 2008, which integrated our CA solution with Intel’s media processor technology,” said Mr. Jianhua Zhu. “Intel has unparalleled expertise in innovative technologies, marketing channels and a track record of innovative excellence. Together with our superior CA technology, and smart TV and cable smart STB design knowledge, this business collaboration with Intel will enable us to create advanced, highly secure and reliable high-definition home entertainment products.”
“The Triple-play convergence in China is an exciting opportunity for Intel to participate and help develop a next generation network,” said Mr. Arvind Sodhani. “The investment in JoySee is part of Intel Capital’s efforts to further expand China’s smart TV capabilities, as well as to enrich people’s lives through new functionalities and compelling services.”
“Cable smart STB is increasingly central to home entertainment equipment,” Mr. Jun Hong said. “This partnership continues our long-term strategy to create unique high-end products and bring outstanding, diversified, and open smart application experiences and services to end users.”