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20 Nov 2008 07:00
20 November 2008
AMINO TECHNOLOGIES PLC
ACQUISITION
AMINO TO ACQUIRE SET-TOP BOX DIVISION FROM TILGIN AB
Amino Technologies plc ("Amino" or the "Group"; AIM: AMO), the Cambridge-based broadband network software and systems group, is pleased to announce that today, in line with the Group's strategy, it has signed a sales and purchase agreement for the acquisition of Tilgin AB's IPTV set-top box division ("Tilgin IPTV"). Completion of the acquisition is expected to occur on 1 December 2008.
The purchase of Tilgin IPTV, a business offering a range of MPEG-4 HD IPTV set-top boxes within its "Mood" product line, further complements Amino's award-winning product portfolio and adds new software functionality across its entire range. These include picture-in-picture, whole-home connectivity and green-power: all features designed to satisfy a growing market demand. The acquisition will also give Amino immediate access to additional middleware solutions - such as Ericsson and Nokia Siemens Networks - as well as extending the Group's customer reach. Amino expects to enjoy R&D cost synergies delivered through the development and maintenance of common ST Micro based set-top boxes.
Once integration of technologies is complete, initial cost synergies should be realised in H2 2009 when Amino expects the acquisition to be earnings enhancing. Full synergies will be realised from 2010 onwards.
Commenting on the acquisition, Keith Todd, Amino's Chairman, said:
"The acquisition of Tilgin IPTV demonstrates further strategic growth from Amino. Amino's strong market position makes it the ideal consolidator in a market which is both growing and maturing. We are confident that the acquired business will offer incremental profits for the enlarged Group as we leverage their portfolio through our stronger global distribution channels."
Andrew Burke, Chief Executive Officer, added;
"Tilgin IPTV is a sound acquisition for Amino, delivering an extended product portfolio with exciting leading-edge features as well as valuable middleware partners and wider customer reach. The market is demanding consolidation coupled with innovation and Amino is ideally placed to deliver this elusive mix as the shape and nature of IPTV continues to evolve."
For further information please contact:
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Amino Technologies plc: |
+44 (0)1954 234 100 |
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Keith Todd, Chairman |
www.aminocom.com |
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Andrew Burke, Chief Executive |
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Stuart Darling, Chief Financial Officer |
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Financial Dynamics: |
+44 (0)20 7269 7214 |
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James Melville-Ross / Matt Dixon / Nicola Biles |
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KBC Peel Hunt Ltd: |
+44 (0)20 7418 8900 |
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Julian Blunt |
About Amino
Through a combination of software, hardware and systems know-how, Amino Technologies plc (AIM: AMO.L) enables its customers to deliver and monetise a broad range of intelligent on-line video services for the home and business consumer.
The company's award winning range of AmiNET™ products provides telecom, broadcast and hospitality firms with a 'front door' to IPTV: a range of software, middleware and set-top box systems that can be tailored to offer highly scalable and targeted systems.
Amino's 'AssetHouse' technology takes IPTV to the next level, allowing clients such as BT Vision to think like retailers and package, personalise and refresh extra revenue-generating services to viewers.
For more information, please visit www.aminocom.com
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