SMIT Corporation Announces Acquisition of Orbit-Media Limited OTT Business

SMIT Corporation Announces Acquisition of Orbit-Media Limited's OTT Business

September 3, 2012 – SMIT Corporation (“SMIT”), a LEADING provider of devices that enable secure digital content delivery, today announced that the Company has acquired the OTT business of Orbit-Media Limited(“Orbit”), a PIONEER and leader in OTT solution for content distributors in Greater China.

Founded in 2007 by a group of professionals from the Multimedia Laboratory of Tsinghua University in Beijing, Orbit’s OTT business was devoted to the innovation and development of distributing paid digital content through the internet. Orbit is now a leading provider of OTT TV solution in Greater China, partnering with Anyplex Hong Kong Limited, Hong Kong BROADBAND, NextTV under Taiwan Next Media etc. While offering the highest picture and sound quality, Orbit’s technology can SAVE content distributor up to 95% server bandwidth, making it the most cost-effective OTT TV distribution technology. Orbit’s current TECHNOLOGY SUPPORTS PlayReady, Verimatrix and other industry leading DRMs and provides a new media solution for traditional TV operators worldwide.

“We are excited to be a part of the SMIT family and confident that SMIT will take Orbit’s OTT business to new heights with a larger technological platform, broader customer reach and more dedicated resources for innovation and development,” said Mr. Jason Luo, former CTO of Orbit and newly appointed Technical DIRECTOR of SMIT’s new OTT Solution business. “Together with SMIT, we will break new grounds in technology and expand the application field of terminal equipments in our products. Our most recent solution not only supports traditional TV receivers, such as iDTV, but also Apple iOS and Android-based mobile devices.”

Through the acquisition, SMIT aims to augment the Company’s product offerings from pure-play terminal devices, such as CAM, to dissemination services. SMIT started its OTT business in 2009. In March 2011, SMIT partnered with Orbit on Taiwan’s successful NextTV project, which offers approximately one million subscribers online access to live broadcast, catch-up TV and video-on-demand (“VOD”) content within one-year of launch. Orbit provided back-end content streaming services and DATA MANAGEMENT for the operator. DRM encrypted content is distributed through Orbit’s proprietary Peer-to-Peer technology to the receivers designed by SMIT for TV viewers. The service also enabled standard HTTP live streaming to multiple screens, including iOS and Android handheld devices and Samsung Smart TVs.

“We are pleased to acquire Orbit’s OTT business and look forward to a smooth integration.” said Mr. Hongyu Shuai, president of SMIT. “The acquisition is in-line with the Company’s goal to strive for innovation and bring value for operators in content delivery. SMIT will continue to focus on value-added product features and solutions for operators and is committed to deliver secured and high-quality digital content.”

SMIT will showcase the latest OTT solution technology at IBC 2012 to be held in Amsterdam, Netherlands from September 6th to 11th of 2012 in Hall 1, BOOTH F86.

About SMIT Corporation

SMIT Corporation (“SMIT”) provides devices that enable secure digital content delivery for the pay-TV industry, allowing authorized subscribers access to protected content. SMIT is a global leader in the design and development of conditional access modules (“CAM”s), which enables the delivery of premium content to digital TVs without the need for a set-top-box (“STB”). SMIT’s CAMs are custom designed to meet the strict security requirements of each conditional access (“CA”) provider and the varied user-interface and compliance requirements of each pay TV operator. As Over-the-Top TV (“OTT”), INTERNET VIDEO streaming, enriches the way content is delivered and consumed, SMIT also provides OTT solution and offers cloud platform to allow access to paid content by multiple screens in the household.

SMIT was founded in 2003 and is headquartered in Hong Kong, with branch offices in Shenzhen, Beijing, Munich and Palo Alto, California. SMIT currently has approximately 300 employees. For more information, please visit http://www.smit.com.cn.