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Frost & Sullivan Publishes Update Coverage Report on Vonetize Plc Agreements signed with content providers expand operations to the US, LATAM, Africa, CIS and Europe; purchase of controlling interest by Desilu Studios Inc. materially confirms market potential for its product; target price raised to NIS 1.85

Nachrichtenquelle: PR Newswire (engl.)
17.05.2018, 11:36  |  244   |   |   

Equity Research is published in the framework of the Tel Aviv Stock Exchange (TASE) Analysis Program

TEL AVIV, Israel, May 17, 2018 /PRNewswire/ -- TASE analysis project was launched in 2016 in order to raise the investors' level of knowledge of TASE listed technology and life-science companies and the markets in which the companies operate, thus creating appropriate pricing and increasing the exposure of investors from Israel and abroad. Its goal is to encourage investments in these companies by removing the barrier of lacking understanding in the market.

In order to maintain professional, independent and unbiased analysis, the companies signed an agreement with the TASE to receive the analysis services for an obligatory period of two years. The companies cannot withdraw from the project during this period. The analysis is funded by the companies surveyed with funding from the Chief Scientist and the TASE.

Summary of Highlights:

Vonetize released its annual report on 29 March, 2018 detailing the following:

Agreement signed with Roku Inc. for the integration of Vonetize's services into set-top boxes and televisions imbedded with Roku's technology.

  • Roku is a major player in the industry offering services such as Hulu, Netflix, and Channel Bollywood. In all, viewers spend 1.5 billion hours a month viewing its content.
  • Roku's main market is in the US, but also has a well-established presence in Western Europe and Latin America.

Desilu Studios Inc. purchased control of Vonetize at a very high premium on the share price prior to announcement.

  • As reported in an Immediate Update report dated 12 March, 2018, the purchase arrangement is comprised of two phases.
    • Under the first phase, 10% of the shares will be purchased immediately in cash  (representing a valuation of NIS 174M / $50M).
    • Under the second, up to 15.5 million shares (approx. 44% of total shares) will be acquired under a share swap after Desilu has completed an IPO, or equivalent.

We increase Vonetize's equity value to $20.1M / NIS 70.3M corresponding to a target price ranging between NIS 1.75 and NIS 1.96; a mean of NIS 1.85.

  • Revenues for 2017 totaled $1.3M an 85% increase on those during 2016, this was mainly due to an increase in revenues in Brazil and Israel, the latter being a result of the Triple C agreement. Which has since been annulled.
  • The company's equity as at 31.12.2017 decreased by $4M, mainly due to higher liabilities taken on during 2017.
  • The company's accountants voiced concern with the company's current assets to current liabilities ratio.

About the company - Vonetize Plc ("Vonetize"), an Israeli-headquartered company, offers Video-on-Demand (VOD), Over-The-Top (OTT) content services, technology platforms as fully-managed services for set-top boxes, smart phones, smart TVs and other Internet-connected devices.  The company offers multi-screen end-to-end video content solutions, including; premium content from Hollywood studios, cloud-based digital video delivery of live VOD content, content management systems, billing, CRM, and marketing/business intelligence (BI) analysis systems.  The company is active in Israel, Latin America, Africa, and the UK. Vonetize has been listed on the Tel Aviv Stock Exchange since July 2016.  It was established and incorporated in Cyprus as Pixelate T.V. Ltd. in April 2011, and rebranded in February 2016.

See full report here.

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Contact us:  Start the discussion


Kristi Cekani
Corporate Communications - Frost & Sullivan, Europe
P: +39.02.4851.6133
E: kristi.cekani@frost.com


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