iMagicTV Demos Tricks at CES

[Saint John, NEW BRUNSWICK] iMagicTV and Motorola are teaming up at this weekend’s 2001 International CES (Consumer Electronics Show) to demonstrate the benefits of broadband television. The showcase will put on display iMagicTV’s DTV Manager software in conjunction with Motorola’s Streamaster 5000 technology. The CES show is being held at the Las Vegas Convention Center from January 6-9.

Incorporated in 1997, iMagicTV offers software products and related services that enable telecommunications companies and other service providers to offer their subscribers digital television and interactive media over existing networks. The software is configured for high-speed broadband networks such as ADSL, VDSL and Fiber to the Home (FTTH).

The Streamaster 5000 is a flexible client that supports interactive 3D graphics, Java, MPEG, digital video, digital audio, and Internet access and e-commerce applications. Using iMagicTV’s DTV Manager, the Streamaster 5000 enables users to enjoy digital broadcast television, high-speed Internet access, 3-D games, video and music-on-demand, karaoke and online shopping.

“iMagicTV’s DTV Manager, along with Motorola’s Streamaster 5000 provides key technologies for delivering television and interactive media services over broadband networks,” said Marcel LeBrun, president and CEO of iMagicTV. “Motorola’s Streamaster 5000 and iMagicTV’s software solutions enable telephone companies, ISPs and other service providers to increase revenue streams based on video, with services like movies-on-demand, games-on-demand and broadcast television.”

Nevertheless, iMagicTV has been on shaky ground over the past couple of months. Instead of waiting for markets to become more forgiving of high-tech companies, iMagicTV announced its initial public offering (IPO) on November 20, 2000, a time when many firms in the high-tech sector were experiencing a decline in stock value.

iMagicTV’s share price opened at $11 (U.S.) on the Nasdaq and $17.15 (CDN) on the Toronto Stock Exchange (TSE). On the Nasdaq, the company’s highest share price for 2000 was $11.13 (U.S.), slumping to $4.50 (U.S.) in December. The TSE listed iMagicTV’s share price high for 2000 at $17.20 (CDN) and its low at $6.80 (CDN).

In various press reports, LeBrun downplayed the stock fluctuation, emphasizing the importance of gaining market share.

Presently, a number of telcos are testing the iMagicTV software, which could take several months. If all goes well, the software has the potential to be utilized in a rollout to as many as 190 million subscribers.