Amino acquires Booxmedia for €7.9m
May 20, 2015
Amino, experts in IPTV, has acquired Booxmedia, the Finnish cloud TV platform provider, enabling the company to offer TV Everywhere solutions to new market segments in OTT multiscreen TV.
Founded in Helsinki in 2009, Booxmedia is a Software-as-a-Service (SaaS) cloud TV platform provider. Its core product suite enables operators and service providers to launch “TV everywhere” services using an “off the shelf” cloud platform, removing the need to build their own bespoke technology infrastructure.
Existing customers include Finnish quad play operator DNA Oy, which offers a TV Everywhere smartphone and tablet service based on the Booxmedia platform.
Amino has acquired Booxmedia for an initial consideration of €7.9 million including its estimated net cash at completion of €0.5 million. The initial consideration will be satisfied by €7.2 million in cash and €0.7 million in Amino shares. Additional consideration of up to €2.6 million, shared equally between cash and new Ordinary Shares, will be payable on the basis of Booxmedia’s future performance including its revenue generated for the three financial years ending December 31st 2017.
Donald McGarva, Chief Executive Officer of Amino Technologies plc, said: “This important acquisition is closely aligned with our stated strategy and vision of the future of entertainment and the major industry shift towards TV viewing anytime, anyplace, anywhere. Complementary to our current offering, we will now also be able to provide a new, proven and scalable solution to additional markets both within the mobile space and the wider OTT marketplace. Increasingly, TV Everywhere is the primary route for new agile operators in launching TV services alongside voice and broadband offerings and we look forward to working with the Booxmedia team in targeting these markets.”