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Stracon tie-up with UK’s TV major, Magic Holdings

07-August-2001
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Stracon tie-up with UK’s TV major, Magic Holdings

Stracon India Pvt Ltd, a major player in the area of sports broadcasting rights, has entered into a equity tie-up with UK-based Magic Holdings Ltd for putting set-top boxes in Indian homes. Stracon will put Magic’s set-top boxes called M@gicbox into Indian homes. These boxes will turn the TV into an Internet access device, which will allow the user to surf the net and buy stuff online securely.

Under the equity deal, both Stracon and Magic will pick up stake in each other’s company through a swap deal. According to industry sources, the swap ration will be 1:8.

Stracon will make a preferential allotment of 62,500 shares in lieu of 500,000 equity shares of Magic Holdings. As part of the deal, one Stracon member will find place in Magic Holding’s board of directors.

Magic-Stracon deal has a larger gameplan than just making TVs online and interactive. The companies are waiting for the digital TV broadcasting era to come through, which will allow these companies to push their set-top boxes faster, since neither modes of digital broadcasting, DVB or DTH, can happen minus set-top boxes.

Magic Holdings, through franchisee operations like Stracon, plans to put 5 million set-top boxes in Asia within the next two years at low prices, and make their money through the services that can be hosted from the interactive platform for t-commerce as well as by allowing homes to get superior digital TV.

Besides Stracon, Magic Holdings is also roping in Hong Kong-based Corporate Access, a Pacific Century Cyberworks arm, and Logan Technology Ltd, a new company in the digital broadcasting arena.

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