Business
Formation of TCAT Limited Subsidiary
Formation of TCAT Limited Subsidiary.
About this update from One Media Ip Group Plc
[{"type":"text","content":"\n \n 9 November 2020\n One Media iP Group Plc\n (\"One Media” or the \"Company\")\n Formation of TCAT Limited Subsidiary\n One Media iP Group Plc (AIM: OMIP), the digital music rights acquirer, publisher and distributor, announces that the Company has incorporated a new subsidiary, TCAT Limited, and appointed an experienced management team for its Technical Copyright Analysis Tool (“TCAT”).\n TCAT is a ‘Software as a Service’ (SaaS) platform which was developed in-house at One Media to detect copyright infringement within legitimate digital music stores. The creation of the subsidiary is part of TCAT’s next phase of development to become a leading anti-piracy service for the music industry.\n TCAT currently provides a range of services to two major record labels and the world’s largest media distributor on a retained basis, and its services are also used by organisations that represent the interests of the recording industry worldwide. TCAT Limited is based in Belfast, a leading technology hub with a large pool of highly qualified employees. TCAT is eligible for government (financial) support from (the regional development agency) Invest Northern Ireland.\n To enhance and scale TCAT for wider use across the industry and other markets, the Company has appointed an accomplished management team to operate the subsidiary, led by Dr Ed Vernon OBE, Strategic Adviser to BT Ireland, a Foundation Board Trustee of Queen’s University, a Belfast Harbour Commissioner, and adviser to a number of technology businesses. Ed will be appointed Non-executive Chairman and holds 8% of shares in TCAT Limited under a JV deal.\n Ed will be joined on the Board of TCAT Limited by Robin Abeyesinhe as Chief Financial Officer and Chief Operating Officer, who has over 30 years’ public and private European finance experience.\n Michael Infante, Chief Executive Officer of One Media iP, and Alice Dyson Jones, Chief Operating Officer of One Media iP and Director of the British Phonographic Industry (BPI), will also join TCAT Limited’s Board.\n Dr Benoit Hudza, who currently leads a team of engineers, data scientists and researchers to bring Artificial Intelligence to cloud operations, has been appointed as an adviser to the Board of TCAT Limited. \n The senior management team will consist of:\n ·Gareth Waller as Chief Technology Officer. Gare...