British digital technology company, IP Vision – which manufactures the Fetch TV digital receivers and movies on demand service – has fallen
into administration.
Administrators from UHY Hacker Young have been appointed to find a buyer for the company, which sold its freeview boxes in Tesco stores under the Teknika brand. The boxes combined Freeview DTT tuner with access to the BBC iPlayer, Sky Player and Fetch TV’s own on demand content.
IP Vision’s chief executive, Eddie Abrams, said that the Fetch TV video on demand services would be continuing to operate while the search for a buyer was carried out.
“IP Vision is a recognised innovator with a well-deserved reputation in the field of hybrid DTT/IPTV solutions and premium over-the-top video on demand services,” he said in a statement.
“Purchasers will be able to take full advantage of the Company’s many strengths in these respective areas which include a fully-operational end-to-end hybrid TV platform and a multi-device, premium video on demand service with broad reach in conjunction with major TV manufacturers and approximately 30 content partners,” he added.
The company was formed in 2007 and currently employs around 20 staff. It has shareholders that include French company, Netgem. They had recently launched a new app for Panasonic Viera televisions and are at an advanced stage in the development of one for Samsung’s Smart TV platform, which was scheduled for release in the first quarter of 2012.
