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OTT-ONE signs contract with Chinese partner

Listed Hungarian IT company OTT-ONE on Tuesday said it signed a contract with the APEC E-commerce Business Alliance Smart Industry Committee, based in Chengdu, on supporting the launch of its products on the Chinese market, according to state news wire MTI.

OTT-ONE said the contract had been signed in the framework of the 9th Chengdu Digital Economy Collaboration Forum & 5G CEE Industrial Forum, held on August 25-27.

Hungary was the guest of honor at the conference and business forum, and Chinaʼs economy ministry invited three Hungarian companies to participate, among them OTT-ONE.

OTT-ONE said the contract with APEC E-commerce Business Alliance Smart Industry Committee would help it establish a network of partners in China and help it bring its products to market there.

OTT-ONE has streaming, e-sport, security systems and online learning businesses at present. In January, it acquired a permit necessary to start production, development and servicing of defense industry equipment.