MONTREAL, Nov. 12, 2014 (GLOBE NEWSWIRE) -- Select-TV Solutions, Inc. ("SELT" or the "Company") (OTCQB: SELT) a leading in room entreating technology system announced today that it has entered into a Memorandum of Understanding ("MOU") which intends to merge with MyStay, Inc., an interactive media systems provider to the hospitality industry.
MyStay, Inc. is a leader in the delivery of Over-The-Top (OTT) system solutions to the hospitality industry. With an installed base to over 17,000 hotel rooms and an installation backlog of thousands more. Its systems are deployed in some of the top hotel brands in North America, including a substantial number of casino hotels. MyStay delivers a suite of technologies that perfectly complement the technology and IP portfolio of SELT. From solutions designed to address hotels with infrastructure that is less amenable to the Select-TV Solutions system, to leading mobile ordering and payment platforms, the MyStay product portfolio meshes perfectly with the Company's existing product offerings. MyStay also brings a focused team of highly experienced industry executives that will add to the bench strength of the Select-TV Solutions team.
Select-TV Solutions, Inc.'s Chief Executive Officer, Geoffrey Mott stated "I'm very pleased to announce this MOU. The combination of the two companies will bring to the market a powerful suite of products and services that address all segments of the hotel industry and will accelerate SELT's business plan by at least twelve months. The addition of the team from MyStay, led by Brooks Pickering, a highly regarded industry veteran, will position the Company for accelerated growth and success in North America and enable the Company to expand its footprint more rapidly than originally planned."
Brooks Pickering, Chief Executive Officer of MyStay, Inc. added "It's very unusual for two such highly innovative companies to come together and complement each other so well. Select-TV and MyStay share a common vision, which represents the next generation product offering and exciting revenue opportunity the hospitality industry so sorely needs. Our combined teams are excited to be working together, where the merger of these two dynamic businesses truly equals a one-plus-one-equals-three opportunity."
About Select-TV Solutions, Inc.
Select-TV Solutions is a leading end-to-end IPTV (Internet Protocol Television) solution provider for the hospitality and telecommunication sectors.
About MyStay, Inc.
MyStay, Inc. is an interactive media and local advertising company within the hospitality, digital signage and social media industries.
DISCLAIMER:
Forward-Looking Statements: Except for statements of historical fact, this news release contains certain "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995, including, without limitation expectations, beliefs, plans and objectives regarding the development, use and marketability of products. Such forward-looking statements are based on present circumstances and on SELT's predictions with respect to events that have not occurred, that may not occur, or that may occur with different consequences and timing than those now assumed or anticipated. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, and are not guarantees of future performance or results and involve risks and uncertainties that could cause actual events or results to differ materially from the events or results expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to successfully develop and market products, consumer and business consumption habits, the ability to fund operations and other factors over which SELT has little or no control. Such forward-looking statements are made only as of the date of this release, and SELT assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances. Readers should not place undue reliance on these forward-looking statements. Risks, uncertainties and other factors are discussed in documents filed from time to time by SELT with the Securities and Exchange Commission. This press release does not and shall not constitute an offer to sell or the solicitation of any offer to buy any of the securities, nor shall there be any sale of the securities, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. The securities have not been registered under the Securities Act of 1933, as amended (the "Securities Act") or any state securities laws, and may not be offered or sold in the United States absent registration, or an applicable exemption from registration, under the Securities Act and applicable state securities laws.
CONTACT:
Mr. Philippe Germain, Chairman
Tel: +1-418-264-7134
Email: PGermain@SelecTVSolutions.com
HUG#1870643