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LAS VEGAS, Jan. 4 /PRNewswire/ -- Delphi Corp. announced today that it has become a strategic investor and technology provider for ONDAS Media SA, (ONDAS), the premier European satellite radio company.
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Delphi made the announcement at its media briefing here today at the 2006 International Consumer Electronics Show. Delphi officials said the company has made significant cash strategic investment in ONDAS.
ONDAS expects to launch a full subscription-based satellite radio service in 2009 with more than 150 channels of music, sports, news and entertainment as well as digital telematics and data services across Europe.
In addition to being a strategic investor, Delphi will also provide hardware for ONDAS, be represented on ONDAS' board of directors, and provide input into the company's business and technology strategies.
On the basis of its many years of experience as a supplier of hardware to three different satellite radio broadcasting companies in the United States, Canada, and Asia, Delphi will design and manufacture satellite terminals, OEM receivers and portable electronics equipment capable of receiving the satellite audio, video and data information from ONDAS. Delphi will establish a European satellite radio innovation center in Germany in 2006 to develop these new products.
"We are certainly excited to help introduce satellite radio to Europe," said Bob Schumacher, general director of advanced product development and business strategy at Delphi Electronics & Safety. "We believe satellite radio will revolutionize the European audio broadcast industry across the continent by offering consumers a lot more choices that are aligned with today's lifestyles."
Delphi was the first OEM supplier to sign licensing agreements with both U.S. companies and currently leads the U.S. market in the number of satellite radios sold.
"This is an outstanding opportunity for Delphi to grow in an important market, both with automakers and retailers," said Joe Damato, director, consumer electronics Delphi Products & Service Solutions. "We're excited to be on the forefront of satellite radio yet again, and look forward to leveraging our experience, expertise and relationships to help ONDAS succeed."
ONDAS will offer Europeans more than 150 channels of proprietary and re-distributed music,...