The investment from the 16-year-old information technology and services company will help xTV expand its .TV network, which allows individuals and companies to create television channels filled with their preferred video, social, news, and weather content, all of which is updated in real time.
xTV works with companies like AOL, Intel, and Microsoft, which is part of why UST Global was attracted to the prospect, according to a canned statement from UST’s chief information officer, Tony Velleca.
Basically, xTV has the platform, and UST Global has the scale. “We’re looking forward to deploying xTV into many of our significant verticals and allowing xTV customers to tap into our 15,000 strong organizations to deploy any size .TV network,” Velleca was quoted as saying in the statement.
The investment also opens up the xTV service to UST Global customers. This idea here is to create a “new media network” that can be utilized by a greater number of your target audience, whether that’s your employees, partners, customers, or investors.
As part of the deal, Redwood City, Calif.-based xTV will expand in Los Angeles, much closer to UST’s headquarters in Aliso Viejo, Calif.