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Description of business:
SyQic is a fast growing OTT provider of live TV and on-demand paid video content across mobile, internet-enabled consumer electronics devices such as mobile phones and tablets. SyQic has established relationships with both content providers and service distributors and provides a mobile video service that enables end-users to gain access to content from anywhere and at anytime on easy-to-navigate software. SyQic's current focus is the Asian market together with global migrant and expatriate communities and the SyQic group seeks to provide content to customers at an affordable price. The SyQic group is headquartered in the UK, where its key operations and R&D are located, and has its main back-end office and servers in Malaysia and Singapore. Since 2010, the SyQic group has pursued a paid mobile delivery model and, as such, it does not rely on advertising revenue, instead generating its revenues through access fees charged to its end-users. As at 31 July 2013 SyQic had, in aggregate, served over 1 million end-users across its core markets in Malaysia, Philippines and Indonesia. In October 2013 it achieved approximately 1.04 million subscription transactions, more than seven times the 147,000 subscription transactions achieved in June 2013. In the year ended 31 December 2012, SyQic generated revenues of 3.9 million and profits before taxation of 625,000.

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SyQic plc

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