One Media iP Group Plc Formation of TCAT Limited Subsidiary
November 09 2020 - 2:01AM
UK Regulatory
TIDMOMIP
9 November 2020
One Media iP Group Plc
("One Media" or the "Company")
Formation of TCAT Limited Subsidiary
One Media iP Group Plc (AIM: OMIP), the digital music rights acquirer,
publisher and distributor, announces that the Company has incorporated a new
subsidiary, TCAT Limited, and appointed an experienced management team for its
Technical Copyright Analysis Tool ("TCAT").
TCAT is a 'Software as a Service' (SaaS) platform which was developed in-house
at One Media to detect copyright infringement within legitimate digital music
stores. The creation of the subsidiary is part of TCAT's next phase of
development to become a leading anti-piracy service for the music industry.
TCAT currently provides a range of services to two major record labels and the
world's largest media distributor on a retained basis, and its services are
also used by organisations that represent the interests of the recording
industry worldwide. TCAT Limited is based in Belfast, a leading technology hub
with a large pool of highly qualified employees. TCAT is eligible for
government (financial) support from (the regional development agency) Invest
Northern Ireland.
To enhance and scale TCAT for wider use across the industry and other markets,
the Company has appointed an accomplished management team to operate the
subsidiary, led by Dr Ed Vernon OBE, Strategic Adviser to BT Ireland, a
Foundation Board Trustee of Queen's University, a Belfast Harbour Commissioner,
and adviser to a number of technology businesses. Ed will be appointed
Non-executive Chairman and holds 8% of shares in TCAT Limited under a JV deal.
Ed will be joined on the Board of TCAT Limited by Robin Abeyesinhe as Chief
Financial Officer and Chief Operating Officer, who has over 30 years' public
and private European finance experience.
Michael Infante, Chief Executive Officer of One Media iP, and Alice Dyson
Jones, Chief Operating Officer of One Media iP and Director of the British
Phonographic Industry (BPI), will also join TCAT Limited's Board.
Dr Benoit Hudza, who currently leads a team of engineers, data scientists and
researchers to bring Artificial Intelligence to cloud operations, has been
appointed as an adviser to the Board of TCAT Limited.
The senior management team will consist of:
· Gareth Waller as Chief Technology Officer. Gareth has significant
experience developing highly scalable customer engagement platforms for the
retail sector.
· Kevin King is based in New York USA (the focus of TCAT's client list)
and as Head of International Sales will lead the sales initiative for TCAT. His
experience in all social music destinations and his previous work with major
record labels, digital distributors and leading digital streaming sites is
important to the marketing of the service.
· Dr Giuseppe Malavolta, Dr Mahroo Rockni and Mr Philip Miles, all highly
experienced software developers who have been integral to TCAT's development to
date, will also take up positions in TCAT Limited.
The team, now consisting of a number of Big Data technology industry
professionals, will be expanded in due course to provide the expertise required
to grow the platform and develop new initiatives and tools in music
anti-piracy, digital music fingerprinting and music data analysis.
Michael Infante, Chief Executive Officer of One Media iP, commented: "After
four years of developing and growing TCAT's capabilities in-house, the Board
has identified the need for TCAT to operate as an independent entity within the
Group in order to realise its full potential.
"With a number of major record labels already subscribing to TCAT's services
on a retained basis, we are confident that, with the provision of additional
resource and technical expertise to expand the software's capabilities and
usages, there is significant opportunity to gain new traction within the
industry. Our intention is for TCAT to become a mobile anti-piracy and audit
tool for composers and artists as we build the portal to allow for future
application access.
"Under the direction of a highly experienced and motivated management team, the
Board has every confidence in TCAT's growth trajectory as it enters the next
phase of its development. We look forward to providing further updates in due
course."
-Ends-
One Media iP Group Plc +44 (0)175 378 5500
Michael Infante - CEO
Claire Blunt - Chairman +44 (0)175 378 5501
Cairn Financial Advisers LLP (Nominated Adviser) +44 (0)20 7213 0880
Liam Murray
Jo Turner
Ludovico Lazzaretti
Cenkos Securities plc (Broker) +44 (0)20 7397 8900
Max Hartley
Max Gould
Michael Johnson (Sales)
Yellow Jersey PR (PR & IR) +44 (0)20 3004 9512
Charles Goodwin
Annabel Atkins
About One Media iP Group Plc
One Media is a digital music rights acquirer, publisher and distributor. The
Group specialises in purchasing and monetising intellectual property rights
with proven, repeat income streams. One Media adds value to its content by
maximising its availability in over 600 digital stores globally, including
Apple Music, YouTube, Amazon and Spotify.
One Media's music is also widely used for synchronisation in film, TV and
digital gaming whilst its video content is primarily viewed on YouTube where
One Media operates over 20 YouTube channels as a certified partner.
One Media is listed on the London Stock Exchange on the AIM index, under the
symbol 'OMIP'.
For further information, please visit www.omip.co.uk and www.tcat.media
Caution regarding forward looking statements
Certain statements in this announcement, are, or may be deemed to be, forward
looking statements. Forward looking statements are identified by their use of
terms and phrases such as "believe", "could", "should" "envisage",
"estimate", "intend", "may", "plan", "potentially", "expect",
"will" or the negative of those, variations or comparable expressions,
including references to assumptions. These forward-looking statements are not
based on historical facts but rather on the Directors' current expectations and
assumptions regarding the Company's future growth, results of operations,
performance, future capital and other expenditures (including the amount,
nature and sources of funding thereof), competitive advantages, business
prospects and opportunities. Such forward looking statements reflect the
Directors' current beliefs and assumptions and are based on information
currently available to the Directors.
END
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