Digital Utilities acquires TORQ to bolster video transport portfolio
Michelle Clancy | 15-01-2013
Digital Utilities Ventures, which offers IP-based video transport systems, has finalised the merger to acquire 100% of TORQ Communications. Together the two will go to market under the Vizzage brand.
"TORQ has network and interconnections with major network providers worldwide and will allow the DUTV distribution of video content to be a powerhouse that is dedicated to surpassing consumers' expectations, both with the innovative content, and new vertical markets for IPTV," said Garry McHenry, CEO of Digital Utilities. "The merger will be a major corporate component that allows a new look and feel of the Vizzage brand."
According to McHenry, the company will focus on merging both new and existing technologies to provide IPTV-centred products. Further details of the TORQ merger including new corporate strategies, revenue projections, potential partnerships with US based carriers, and the assignment of a new TORQ management team, will be announced in the coming weeks.
"Most of all I want to thank our loyal investors and supporters that have waited so long for this merger to be completed. It took much longer than anyone had expected but fortunately we have successfully completed this deal and look forward to moving full speed ahead this year with our IPTV vision and technologies," concluded McHenry.