Helsinki’s Booxmedia, the cloud-based TV platform, announces today it’s been acquired by Amino, a cloud based IPTV platform provider deploys their technology and devices by major network operators.
Put into simple terms, Booxmedia provides TV through the cloud, allowing you to watch TV streamed live over your devices. Rather than going directly to consumers (although Booxmedia does have its own app targeting the Finnish audience) Booxmedia sells their services whitelabeled to operators, such as Finnish operator DNA’s “TV everywhere” smartphone and tablet service based on Booxmedia’s platform.
On top of apps for iOS, Android, and Windows Phone, Booxmedia provides services for any browser-enabled device, like smart TVs, game consoles, set-top boxes, and home gateways. Through Booxmedia’s service both live TV and catchup can be offered.
This will plug in well into Amino’s offering, which include a range of add-on services for operators and other companies that have a presence in the home. These include IPTV devices, its own integrated app store, and Homereach, it’s own home monitoring solution with wifi cameras, smart plugs, and door sensors.
“The acquisition provides the Group with an immediate capability in this area whilst also providing a platform to build upon. It will also further strengthen our core competency in IP entertainment software bringing cloud TV, multiscreen and mobile expertise to our skillset,” says Donald McGarva, Chief Executive Officer of Amino Technologies in a statement.
To get into the structure of the deal, they write:
Amino has acquired Booxmedia for an initial consideration of €7.9m including its estimated net cash at completion of €0.5m. The initial consideration will be satisfied by €7.2m in cash and €0.7m in Amino shares. Additional consideration of up to €2.6m, shared equally between cash and new Ordinary Shares, will be payable on the basis of Booxmedia’s future performance including its revenue generated for the three financial years ending 31 December 2017.