Earlier today I spoke with the CEO as he walked me through the Google related RNS. It is transformational of course and very interesting. The good news is that Google are to work with Izzi Telecom of Mexico (a major telecom company with cable tv services) and one that is also Mirada's largest client (70%ish). All ‘by chance '. The recently published R&A mentions an android TV development, this being for Google and Izzi and been in development for a year. Android TV for cable is the big trend with Google spending billions on the service tech and much cheaper than designing / upgrading a new fibre network. The set top box technology Mirada has developed is being adopted by Google in the Izzi offer! Mirada has a £6m market cap and swimming with Google! CEO very happy even if in lock down in Madrid.
The earlier RNS I mention was a Spanish cable network one, ZAPI PMO where Mirada has managed to create technology to amalgamating many local serves together, so a local subscriber can watch wherever and on multiple device types. Mirada had $13m of revenue last year and I guess at the results profitability will be mentioned and the two new customers which cannot hurt Mirada's global technology uptake! Izzi will be offering new services to the 4m subscribers in Mexico as a result. The largest shareholder is also Mexican (invested in the PLC for its tech) with no business connections between them. £6m market cap seems wrong for the tech but has some debt but then 87% of the shares are owned by the Mexican investor who helped finance the PLC over the years. This shareholding needs addressed I would suggest. Allenby are the broker, research on the web.
