Media and entertainment tech solutions provider Amino Communications has acquired online video specialist 24i.
The deal is valued at €24.1 million.
24i’s technology serves customers including NPO, ifix, RTE and Fox Sports. The Amino Group says that the acquisition will provide the company with “a broader and deeper product set, talented development capability, complementary skills and a greater geographical reach”.
Amino CEO Donald McGarva (pictured) said: “The fast-growing 24i is a great strategic acquisition for us, moving us closer to a decisive market leadership position. Not only does 24i’s leadership in UI/UX and TV/Online video Apps complement our product line-up, but 24i also shares our vision of where the industry is headed, and the agility and culture of innovation required to get it there profitably.
“The broadcast and online video market is undergoing rapid change, but not every media business is at the same place on the disruption curve taking the industry from broadcast and hardware to streaming and cloud hosted video platforms. It’s our strategic aim to provide solutions to media businesses and operators at many points along the curve. The acquisition of 24i and its products, services and people enable us to do this better, as we continue to enable exciting next generation video experiences and services.”
Martijn van Horssen, 24i Media CEO said: “In a rapidly changing industry, Amino and 24i are joining forces to innovate and create disruptive video experiences. With our combined technology stacks and highly professional and motivated teams, our post-acquisition mission remains exactly the same: to provide the solutions and services that innovate video experiences across all TV platforms on any device to enable Amino customers to deliver valuable consumer engagements.”
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24th August 2019