Interactive Systems Worldwide, Inc. (NASDAQ:ISWI), based in West Paterson, NJ, developed and patented a software platform which enables users to wager play-by-play while watching a live sporting event. ISW and its partner Global Interactive Systems, Ltd. have issued two releases today outlining agreements that have been made (TeleWest Communications and ITV Digital) with two of the largest digital TV providers in the UK.
WEST PATERSON, N.J.–Sept. 10, 2001–Interactive Systems Worldwide, Inc. (Nasdaq:ISWI – news) announced today that its licensee and financial partner, Global Interactive Gaming, Ltd. (GIG), signed its second agreement to develop and launch an interactive wagering product. This agreement is between GIG and ITV Digital, a communications provider with an established base of over one million Interactive TV and Internet customers, now offering the world’s first commercial digital terrestrial TV platform. The two companies will jointly develop a fully interactive, play-by-play consumer betting product, with a rollout expected for early 2002. The ultimate goal is to extend GIG’s service to all of ITV Digital’s 1.1 million customers.
GIG’s interactive wagering product utilizes ISWI’s unique, patent protected, SportXction(TM) software platform. The licensing agreements signed in March 2000 between ISWI and GIG, provide to ISWI as license fees, a share of the revenue from all systems utilizing its technology. (for more information see “About ISWI – GIG License Agreements”, below.)
Barry Mindes, Chairman & CEO of Interactive Systems Worldwide, Inc. stated, “We are extremely pleased that GIG has signed its second development and distribution agreement in the last week, this one with ITV, one of the true pioneers of interactive television. These agreements validate ISWI’s decision to partner with one of the leading communications and media groups in the UK. By aligning the SportXction(TM) platform with the leading Digital Television providers, who are committed to developing, marketing …