SAN FRANCISCO, CA, Jan. 28, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Simlatus Corporation (OTC Pink: SIML) (“Simlatus” or the “Company”), Satel Group announced the merger with Simlatus in November 2018, and the merger resulted in the expansion of Satel’s internet business. Satel’s license with DirecTV™ allows the company to be product competitive with MDU and commercial based internet products within the metropolitan San Francisco Bay Area.
With the Over-The-Top (OTT) revenue growth from 2010 to 2022 extending from 6.1 billion U.S. dollars in 2010 to 83.4 billion U.S. dollars in 2022. Satel will introduce its new equipment and services this year.
Satel has demonstrated a $14M growing revenue stream since its conception in 2004, and this new merger offers Simlatus an existing revenue stream and new product development module within the customer products bundle as a part of the core business model.
Richard Hylen, Chairman, stated, “Simlatus has been the manufacturer of products for DirecTV™ over the past 15 years. We designed and sold many HD/SDI Protection Switch Signal Processors to DirecTV™. The merger allows our new company to expand both product and service oriented revenues.”
Safe Harbor for Forward-Looking Statements: This news release includes forward-looking statements. While these statements are made to convey to the public the company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. Whereas management believes such representations to be true and accurate based on information and data available to the company at this time, actual results may differ materially from those described. The Company's operations and business prospects are always subject to risk and uncertainties. Important factors that may cause actual results to differ are and will be set forth in the company's periodic filings with the U.S. Securities and Exchange Commission.