DCH, Inc. & Cantone Research, Inc. Agree to Purchase Number two Provider of Hotel Video, Internet
The DCH Group & Cantone Research, Inc. have agreed to purchase SVI Media. The Company will be retooled and re-branded as Maximus Multimedia International and is preparing to aggressively pursue greater market share with new digital video-on-demand system.
San Antonio, Texas (PRWEB) May 7, 2008
Diamondback Cooperative Holdings, Inc. (DCH), which provides domestic and international hospitality consulting services, announced today it has signed a purchase agreement to acquire the assets of SVI Media, a Peoria, Illinois-based video-on-demand and wireless Internet provider for approximately 2,600 hotels in the United States.
DCH was joined in the transaction by a group of investors led by Cantone Research, Inc., a financial services firm based in New Jersey. DCH will be actively involved in the business development and creative service aspects of the Company while Cantone will structure financial resources for the Company's expansion.
"It's time hoteliers get back the power-of-choice for a cost friendly, uniquely supported in-room entertainment and guest information service, says Dwaine Rivers, Chief Executive Officer of DCH. "It's now here, and the products we provide to the guest will get substantially better as we expand our creative services."
DCH had been evaluating several major media and communication providers over the past twenty-four months to determine which posed the greatest promise for expansion. As the second-largest hospitality video provider, SVI is rivaled only by Lodge Net/On-Command.
SVI will have a new, bolder look and image, led to market by Mike Harding, its new President and Chief Executive Officer. Harding is one of the top media turn around specialists in the industry with Emmy-award-winning media credentials. His vast knowledge of media and advertising is what appealed to the Company's board of directors. "Mike is the right man for the job as he has a wealth of experience," states Rivers. "We are in good hands with Mike running the day-to-day operations."
The company, which will change its name to Maximus Multimedia International, will focus on becoming the number one choice for hoteliers who are looking to provide the ultimate guest experience. "Our people possess the skills to take the old SVI Media and make it fresh and new, exciting and boldly attractive to everyone," says Rivers. DCH also plans to complement the Maximus brand with extended service partners to provide clients real choices no matter the budget.
"Our focus is simply to become the best choice in the marketplace," says Randall James, Executive Director of DCH. "We want to create an engaging and rewarding guest experience, and we are focused on creative ways to increase usage of in-room as well as public space media systems." James says Maximus will provide a complete product which fulfills the consumer's demand to be entertained at home, away, or while traveling.
The transaction is subject to approval of the United States Bankruptcy Court, Central District of Illinois at Peoria. Approval and closing are expected later this month.