CHENNAI: ObjectFrontier Software (OFS) Pvt. Ltd., provider of IT service, has signed a $20 million deal with Technosat, a satellite equipment provider, to facilitate the production of state-of-the-art set top boxes to cater to the growing needs of the South Asian markets. OFS would provide value addition to the chips, imported from Japan. These chips would then be used in the set top boxes.
Addressing a press conference here recently, Joseph Raj, Chairman and Managing Director of OFS, said that his company would be working on a royalty-based model. This would assure OFS a sum of $3 million in the first year of its operation and $20 million in the next five years.
The royalty would be paid for on each set-top box sold. OFS had previously worked on a similar platform for a U.K.- based company in providing remote control systems for handicapped patients.
The Managing Director of Technosat, Irshad M. Contractor, said the company was at present outsourcing these boxes from China and Korea.