SyQic, an OTT provider of live TV and on-demand paid video content across mobile and Internet enabled consumer devices, has confirmed the receipt of the February 2014 payment (approx £280,000) from PT Nextnation Prisma (PTNP), the completion of its acquisition of Maaduu and the activation of a mobile phone payment service for its Yoonic OTT direct to consumer platform.

Jamal Hassim, CEO of SyQic, commented: “We can confirm that the February 2014 PTNP payment has been received and we are also delighted to be able to announce the completion of our acquisition of Maaduu.”

“In addition, we are extremely pleased to be partnering with Fortumo in providing a mobile phone payment facility to our OTT customers. The facility will greatly simplify the process by which Yoonic customers can buy our content and we are confident this will lead to an increase both in OTT customer numbers and in customer retention. Fortumo’s wide geographic reach will also better enable us to roll-out our services into new geographies, in line with our strategic plans.”

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