Private equity firm Apollo Global Management will take Rackspace private in the all-cash deal.
NetMovies is a digital delivery firm in a joint venture with Blockbuster LLC.
TAMPA, Fla. (November 22, 2011) – From bookshelves of DVDs to digital desktop folders filled with titles, and now movie rentals via Internet video-on-demand (iVOD), the world of entertainment-media-viewing has grown to an even more sophisticated level. A level, according to IHS Screen Digest Research, that will reach $314.7 million in 2013, an increase of more than 120 percent. Electronic sell-through (EST) of movies will increase as well with 43.6 percent rate of growth. All this is good news for NetMovies, which announced today it has chosen Savtira Corporation, a new B2B Cloud Commerce solutions company, as their source for building a Cloud Commerce platform.
NetMovies, a digital delivery firm in a joint venture with Blockbuster LLC, was founded by John W. Fanning, who is also the founding chairman and CEO of the most popular peer-to-peer music file sharing system, Napster. NetMovies service offers customers digital delivery of movies though Internet downstreaming. The company’s offerings include: downloads, VOD (videos-on-demand), streaming via subscription-based accounts, à la carte purchases, download-to-own, and movie rental purchase all in both physical and digital form – a business model that fits precisely with Savtira’s platform services of Cloud Commerce capabilities.
“Savtira’s platform was exactly what we were looking for to complete the infrastructure for NetMovies,” says Fanning. “The strong social media impact of the NetMovies site amplifies the power of the services and products Savtira has pioneered and we are excited to get started.”
Savtira is a software-as-a-service (SaaS) e-commerce solutions firm which uses cloud technology to create what they’ve coined as Cloud Commerce, utilizing mass data centers around the globe to power storage and streaming capabilities. The company will create and operate an integrated digital distribution network for NetMovies, enhance the catalog offering with more movie titles, integrate front-end web development, and supplement merchandising and marketing efforts.
“We have a history of providing tremendous disruptive value to consumers. Now with Savtira managing a secure environment to distribute movie content, we also provide tremendous value to the content industry. The technology available through Savtira adheres to the latest PCI compliance and codes. We are comforted to know we are safe and efficient in delivering digital products at NetMovies,” says Fanning.
NetMovies is expected to launch in the first quarter of 2012.
“We look forward to developing this prestigious market. We are confident in providing high-quality services for NetMovies, as we share the same enthusiasm and insight in the media entertainment industry,” said Savtira founder, chairman of the board and CEO, Timothy Roberts.
About Savtira Corporation
Based in Tampa, Florida, Savtira is in the business of digital distribution with a software-as-a-service (SaaS) e-commerce platform that is a turnkey system for the distribution, marketing, merchandising, and selling of both digital media and physical goods in a single store and a single, unified shopping cart. Savtira-powered stores are designed to meet the specific needs of retail partners so no two e-stores are alike. All Savtira e-stores are custom-branded for our partners. Extra features and services are offered on an à la carte basis. Savtira is also building the next carrier-class “Entertainment Distribution Network” (EDN), streaming all digital media from the cloud, with a feature set that eclipses anything on the market. For more information on Savtira, visit: www.Savtira.com or call 813.402.0123. Follow us on Twitter at: http://Twitter.com/Savtira.