AMO.L Regulatory News (AMO)

27 May 2021

AMINO TECHNOLOGIES PLC

("Amino", the "Company" or the "Group")

Acquisition of streaming and Pay TV platform innovator Nordija for €5.3m

- Nordija enables 24i to enhance its end-to-end video streaming portfolio, accelerating its progress in the TV as a Service ("TVaaS") market -

- Earnings enhancing acquisition aims to accelerate growth in the convergence of the streaming and Pay TV market, supporting Amino's 2025 strategic goals to drive software and recurring revenues -

Cambridge - 27 May 2021 - Amino Technologies plc (LSE AIM: AMO), a software-led global media technology company that delivers modern TV experiences, has acquired Nordija, a Danish streaming and Pay TV platform specialist, for a total consideration of €5.3m (approximately $6.5m) (the "Acquisition").

Nordija will be integrated into the Group's 24i business. This will enhance and scale the Group's end-to-end video streaming portfolio. Nordija brings high quality customers to the Group including: Telenor Sweden, TET (formerly Lattelecom), Swisscom Broadcast, the Danish Broadcasting Corporation (DR), WAOO, Boingo Wireless, and SETAR in the Caribbean.

Nordija brings to 24i its strong TV as a Service platform software, an expert team and deep experience with a wide ecosystem of technology partners and customers. Nordija delivered revenues of €3.7m ($4.5m) in FY20. Nordija is expected to achieve growth in FY21 and the Acquisition is expected to be earnings enhancing in the first full financial year of ownership.

As customers increasingly look to offload the day-to-day burden of managing and maintaining their end-to-end video platforms to expert partners like Amino and 24i, this move supports the Group's 2025 strategy to address the convergence of streaming services and traditional Pay TV. As previously stated, the Group's ambition is to triple revenues and drive recurring revenue as a percentage of software revenues to 70% by 2025. The Acquisition immediately adds approximately a further $1.8 million annual recurring revenue ("ARR").

The total consideration due of €5.3m is being funded through a mix of cash and equity. An initial consideration of €4.6m has been paid on completion (€4.1m as cash and €0.5m as equity) and €0.7m has been deferred (€0.2m cash and €0.5m equity), depending on whether certain targets are achieved. All equity consideration is subject to a two-year lock-up restriction.

The initial equity consideration has been satisfied by the immediate issue of 315,511 new ordinary shares of 1 pence each in the capital of the Company ("Ordinary Shares") at a price of 148 pence per Ordinary Share (the "Initial Consideration Shares") and a deferred issue of 292,329 new ordinary shares of 1 pence each in the capital of the Company at a price of 148 pence per Ordinary Share (the "Deferred Consideration Shares").

The Group continues to retain the net proceeds of the recent £9.4m equity fundraising to fund future acquisition opportunities in order to help meet its 2025 strategy.

Donald McGarva, CEO of Amino Technologies plc, said:

"We recently launched our Amino 2025 strategy to capitalise on the convergence of streaming services and traditional Pay TV, which is where we see the greatest opportunity for growth. The acquisition of Nordija today marks another step towards capturing this opportunity, focused on growing software and recurring revenue. Nordija is a business that we have known for a long time, one which our customers love and that shares our vision and approach. We welcome Nordija to the Amino family and look forward to working together to make it easy for people to connect to the TV and video they love."

Joachim Bergman, CEO of 24i, said:

"Nordija's solid base of Pay TV clients rightly value its robust and stable platform and the expertise of its staff. Our companies share a common vision of a market that's swiftly embracing the TV as a Service model, offloading the day-to-day burden of managing and maintaining their end-to-end technology platform to expert partners like us. 24i is already making this vision a reality for customers like Youfone, and the addition of Nordjia's expert team to the 24i family will deliver real business benefits to our customers and accelerate the development of our TV as a Service offering, enabling us to reach a wider audience in our key markets."

Thomas Christensen, CEO of Nordija, who will become 24i CTO, said:

"Nordija was founded on the belief that great solutions come from great collaboration and we can't wait to get started on our collaboration with the 24i team to deliver on our joint vision to help our customers successfully navigate the shifting demands of the streaming and Pay TV markets. Culturally, 24i and Nordija are a great fit and by joining forces we'll be able to quicken the pace at which our combined platform develops to meet the needs of increasingly demanding video consumers."

Issue of Equity

Application has been made for the admission of the Initial Consideration Shares to trading on the AIM market of London Stock Exchange plc ("Admission"). It is expected that Admission will take place at or around 8.00 a.m. (London time) on 2 June 2021. The Initial Consideration Shares will, when issued, be credited as fully paid and will rank pari passu in all respects with the Company's existing issued Ordinary Shares.

On Admission, the Company will have 85,099,368 Ordinary Shares in issue. There are 1,778,725 Ordinary Shares held in treasury. Therefore, the total number of voting rights in the Company is 83,320,643. This number may be used by shareholders as the denominator for the calculation by which they may determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

-ENDS-

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About Amino Technologies plc

Amino Technologies plc is a software-led, global Media Technology company. We deliver modern TV experiences, the way viewers want them. We do this by creating the solutions that Pay-TV operators, broadcasters and content owners need to make it easy for people to connect to the TV and video they love.

Our end to end solutions, offer the best of both worlds: video on demand and live TV. By placing all TV and video streaming content in one place, Pay-TV operators, broadcasters and media owners can stay ahead of evolving viewer demand by providing smarter, more cost-effective ways of delivering modern TV and video experiences to consumers.

Amino Technologies plc has two operating companies: 24i, which focusses on streaming video experiences and Amino, which connects Pay-TV to streaming services. Our two complementary companies combine their products and services to create solutions which ensure that people can consume TV and video how and when they want it. Our solutions deliver modern TV and video experiences every day to millions of viewers globally, via our growing global customer base of over 500 service providers.

Amino Technologies plc is listed on the London Stock Exchange Alternative Investment Market (AIM: symbol AMO). Headquartered in Cambridge, UK, the company has over 300 staff located in offices in New York, Los Angeles, San Francisco, Amsterdam, Helsinki, Madrid, Porto, Brno and Hong Kong.

For more details, visit www.aminotechnologies.com