Amino Technologies, the provider of digital entertainment solutions for IPTV, Internet TV and in-home multimedia distribution, has conditionally agreed to acquire the entire issued share capital of broadcast hybrid TV and connected home solutions provider Entone for a total consideration of $73 million (€67.2 million).
Donald McGarva, Chief Executive of Amino, said the proposed acquisition had the potential to transform its business and broaden its capabilities and market reach globally across IPTV, hybrid broadcast and a range of connected home solutions. “It also aligns closely with our recent acquisition of cloud-TV platform provider Booxmedia, in enabling us to meet the evolving needs of customers across a range of markets as they transition to cloud-based IP-driven multiscreen entertainment delivery. We anticipate a number of synergies between the two companies and expect the proposed acquisition to be earnings enhancing in the first full year of combined operations,” he added.
Steve McKay Chief Executive of Entone, said that bringing together Amino and Entone would create a significant new presence in the pay-TV market with solutions and skillsets that are highly complementary. “We share a very similar vision as to how our industry is changing and the kinds of solutions that are required to address both existing and new customers,” he advised.
Amino also announced its unaudited results for the six month period ended 31 May 2015 which demonstrates strong first half performance with year-on-year revenue growth of 9 per cent. and EBITDA growth of 34 per cent., before exceptional items.
The Company anticipates that the traditional second half seasonal weighting in revenues will continue in the current year. The Group is trading in line with expectations for the year ending 30 November 2015, with the second half of the financial period commencing well.
The Company is confident in the outlook for the remainder of FY15 and reiterates its commitment to pursue a progressive dividend policy of no less than 10 per cent. growth per annum up to and including the year ending 30 November 2016.