Amino has bought Finland-based cloud TV platform provider, Booxmedia, for €7.9 million in an effort to offer TV everywhere solutions to “new market segments in OTT multiscreen TV.”
Amino, which specialises in the development and delivery of IPTV/OTT solutions and makes set-top boxes, said that the deal will add a field-proven and scalable cloud-based platform to deliver entertainment to a full range of IP connected devices.
Booxmedia extends Amino’s IP entertainment delivery offering beyond its current connected home focus and helps it adjust to the industry shift towards TV everywhere, according to Amino.
Founded in Helsinki in 2009, Booxmedia is a Software-as-a-Service (SaaS) cloud TV platform provider that allows operators and service providers to launch TV everywhere services using an off-the-shelf cloud platform.
Amino agreed to buy Booxmedia for an initial consideration of €7.2m in cash and €0.7m in Amino shares, with an additional consideration of up to €2.6m, shared equally between cash and new ordinary shares, to be payable based on Booxmedia’s future performance.
Jukka Sintonen, CEO of Booxmedia, said: “The capabilities of Amino and Booxmedia align very closely with the industry shift towards both home and mobile entertainment consumption. We look forward to working with our new colleagues in increasing the scope and reach of our solutions to the global market.”
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