China Comservice Jiangsu Corporation and InRoom Broadcasting Network, LLC Announce Execution of Strategic Cooperation Agreement
AUSTIN, Texas and NANJING, China, Sept. 17, 2012 /PRNewswire/ — China Comservice Jiangsu Corporation, a wholly-owned subsidiary of China Communications Services Corporation Limited, a joint stock company incorporated under the laws of the People’s Republic of China (Hereinafter referred to as “CCSJS”), and InRoom Broadcasting Network, LLC, a limited liability company formed under the laws of the State of Delaware (Hereinafter referred to as “InRoom”) today signed a five year agreement and will implement InRoom’s unique business opportunity under current and future contracts to provide IPTV and cloud computing systems and services to the global hospitality market through at least August 2017 and to share their respective technology and expertise.
The agreement was signed by the CCSJS CEO Cheng Hong Yan, and Robert E. Holt, CEO of InRoom. The agreement signed today was in consideration of mutual covenants and the parties desire to collaborate as they enter into a formal agreement. The Agreement also set the important terms for CCSJS to provide the technology and capital to deploy 500,000 hotel rooms to be managed by the parties in a phased approach. The initial territory supported by the Agreement will be the United States, Canada, Mexico, the Caribbean and Latin America.
Commenting on the agreements, Cheng Hong Yan said: “CCSJS is a specialized corporation that is able to provide the most comprehensive package services incorporating the consultation, planning, design, construction, maintenance, supervision, overall contract and etc. By virtue of deep understanding of the telecommunication industry, long-term project operating experience and excellent workforce, CCSJS could meet complex, diversified and individual customer demands at the maximum extent. The cooperation with InRoom in the hotel service market development of the U.S. area is essential to the global strategy of CCSJS.”
Robert Holt said, “The agreement is a critical step forward in the strategic cooperation and that beyond the obviously strong project financing support offered by CCSJS (which is essential to the success of a disruptive telecommunications, technology and digital media service provider), is the fact that CCSJS is the best one-stop global services company effectively covering the whole value chain of the telecommunication industry, based on our expertise and experience. The defined important milestones in this strategic relationship are now our focus that we move to the detailed manufacturing and implementation of advanced systems and services with our responsible activities and the goal of continually developing significant new offerings and business models to meet growing global demand within the hospitality market, a market that certainly needs a fresh, yet proven approach to their growing consumer demands for telecom, technology and media.”
Cheng Hong Yan and Robert Holt said they were encouraged to proceed with these projects by the joint efforts to promote present cooperation between the parties and improve funding and operational conditions for the defined territory.
Statements of future events and conditions in this release are forward-looking statements. Actual future results, including project plans, costs and benefits; resource recoveries; and the impact of technology could differ materially due to changes in market conditions affecting the targeted industries; the outcome of development projects; unforeseen technical difficulties or technological changes; the outcome of commercial negotiations; changes in law or government regulation; and other factors discussed here.
CONTACT: InRoom Broadcasting Network, firstname.lastname@example.org
SOURCE InRoom Broadcasting Network