Press release
Orad Looks to Increase Market share in China through Joint Venture with Chinese Broadcast and Telecom Company
May 16, 2013- 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 leader provider of high end virtual studios, 3D real-time graphics, and sports solutions in the Asian market, among them 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 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/.
For further information contact:
Orad Hi-Tec Systems Ltd
Ilan Sidi, CFO
ilan@orad.tv
Edicto Investor Relations
Dr. Sönke Knop
Eschersheimer Landstraße 42
60322 Frankfurt Germany
+49 69 90550551
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