Mirada raises £1.1m for LatAm

November 14, 2013 11.28 Europe/London By Julian Clover

mirada-miniguideInteractive specialist Mirada has announced it has raised £1.1 million through a new share placing.

The company intends to use the new finance to continue its work in Latin America and says its new subscriber-based licence fee model will enable the Company to continue to earn substantial revenues post the launch of a customer’s digital TV service.

It currently has four such contracts in place and revenues in the region have doubled over the last 12 months to £3.2 million.

José Luis Vazquez, chief executive officer of Mirada, commented: “I am delighted with the support shown by both existing and new shareholders through their participation in this placing. The net proceeds will provide us with the necessary funds to enable Mirada to increase our sales and technical teams, allowing us to take advantage of some significant commercial opportunities and achieve our targets in Latin America.”

Customers in the region include the Brazilian GVT, and Mexican operators Cablecom and AXTEL.