Forsway Forms New JV to Target Underserved Streaming Markets
Forsway and Cloudpoint have formed a joint venture, Xtend Solutions FZCO, a new provider of low-cost content streaming solutions in underserved regions. Primary markets of focus for the new venture are India, Africa, and Southeast Asia, within the education, digital outdoor advertising, and OTT services (network offloading) verticals.
The first roll-out is planned for remote school user cases in Asia in Q1. The two companies announced the JV on Jan. 17.
Xtend Solutions’ new offering will look to combine Forsway’s satellite technology and ground equipment with Cloudpoint’s expertise in delivering solutions and executing on a wide scale. It will look to cater to unserved and underserved locations using Wi-Fi satellite technology to distribute content, bypassing the need for a traditional Internet connection. Cloudpoint will promote and deploy the new offering with tech support from Forsway.
“The joint venture with Forsway is a highly complementary partnership in a global arena with huge geographic areas still lacking reliable internet connectivity. Together we can address the digital divide by providing the go to market strength of Cloudpoint combined with the cutting-edge cost-efficient satellite technology from Forsway,” Himanshu Patil, director of Cloudpoint and CEO of Xtend Solutions, said in a statement.