Orad Hi-Tec Systems Ltd. (Frankfurt Prime Standard; Symbol: OHT), a global developer, marketer and distributor of state-of-the-art, 3D real-time graphic solutions for the broadcast market, has invested in a joint venture with a Chinese Broadcast and Telecom company to customize and resell Orad solutions to local and provincial Chinese broadcasters. The investment will increase Orad's penetration in the Chinese broadcast market by offering customized technologies that fulfill local requirements backed by strong local support.
Mr. Avi Sharir, CEO and President of Orad, commented: "Orad has already established itself as a leading provider of high-end virtual studios, 3D real-time graphics, and sports solutions in the Asian market, among them are sales to CCTV China, Shanghai Media Group, Phoenix TV Hong Kong, and Fox Sports Asia. This investment will enable us to substantially expand further into the Chinese broadcast market."
About Orad Hi-Tec Systems
Orad Hi-Tec Systems is a world-leading provider of real-time 3D broadcast graphic, video server, and media asset management solutions including news, channel branding, sports production and enhancement, elections and special events, virtual studios, and virtual advertisement. Orad's compelling solutions streamline production workflow, enhance viewer experience, and improve production value. Founded in 1993, Orad is a public company listed on the Frankfurt Stock Exchange (OHT). More information is available at http://www.orad.tv/.
Contacts:
Orad Hi-Tec Systems Ltd
Ilan Sidi, CFO
ilan@orad.tv
or
Edicto Investor Relations
Dr. Sonke Knop, +49-69-90550551
