IPTV firm wins £9.5m investment

Promises to "redefine the way people watch TV"

6 June 2008 12:18 GMT / By Katie Scott

A British IPTV, or internet TV, company has won a multi-million pound investment.

Inuk Networks has been given £9.5m by Welsh broadcaster S4C and Canadian entrepreneur Sir Terry Matthews to develop and extend its Freewire triple-play service.

At the moment, the service, which offers broadband, telephony and broadcast-quality TV channels delivered to PCs, is mainly available just to students in their on-campus accommodation.

However this investment could see the service rolled out beyond academia.

S4C chief executive Iona Jones said she believes Freewire "has the potential to become a mainstream digital television platform".

She explained: "This investment represents a coming together of S4C's commercial ambitions and our understanding as a broadcaster of the importance of new methods of delivering content to consumers".

Marcus Liassides, Inuk chief executive, added: "This is an exciting time for Inuk, with our Freewire service already available in over 100,000 student rooms in the UK and growing fast".

"S4C and Wesley Clover are providing the means to allow Inuk to further enhance our technology platform and to continue to redefine the way people watch TV."