Amino, leaders in IPTV, today announces that it has acquired Booxmedia, the Finland-based cloud TV platform provider, enabling the company to offer “TV everywhere” solutions to new market segments in OTT multiscreen TV.
Amino acquires cloud-TV platform provider Booxmedia to strengthen 'TV everywhere' offer
Industry analysts forecast major growth in TV viewing on mobile devices with predictions of a 13-fold increase over the next five years. Looking further ahead, analysts predict mobile video will account for more than 20 per cent of total viewing minutes by 2025.
Founded in Helsinki in 2009, Booxmedia is a Software-as-a-Service (SaaS) cloud TV platform provider. Its core product suite enables operators and service providers to launch “TV everywhere” services using an “off the shelf” cloud platform, removing the need to build their own bespoke technology infrastructure.
The solution encompasses media capture, encoding, transcoding, storage and delivery and provides ready-to-deploy “TV as an app” for iOS, Android and Windows mobile devices as well as any browser enabled devices, including smart TVs, games consoles, set-top boxes and home gateways.
Booxmedia customers can provide their subscriber base with full functionality pay-TV features such as:
- HD quality streaming of live TV
- Access to catch-up TV, video on demand and cloud-based recording
- “Follow-me” functionality enabling playback of content to be started on one device and finished on others
- Patented functionality which turns a mobile device into an intelligent remote controller for any internet connected TV screen
Existing customers include Finnish quad play operator DNA Oy, which offers a “TV everywhere” smartphone and tablet service based on the Booxmedia platform.
Amino already has deep expertise in the delivery of high quality IP-based entertainment services via its range of IPTV devices. The acquisition of Booxmedia will add a field-proven and scalable cloud-based platform to deliver entertainment to a full range of IP connected devices. This extends Amino’s IP entertainment delivery offering beyond its current connected home focus and aligns the Group with the industry shift towards “TV everywhere” viewing.
Significantly, Amino will now be able to offer solutions to new customer segments including mobile operators, OTT service providers, media companies and broadcasters, alongside its current fixed-line telecoms operator customers. The Booxmedia SaaS platform is highly complementary to Amino’s range of IPTV devices and is expected to provide a number of cross-selling opportunities.
The acquisition will also strengthen Amino’s core IP entertainment software capabilities which will now extend to include IPTV devices, mobile devices and the cloud, where Booxmedia has a number of patents granted and pending. It will accelerate Amino’s “time to market” with new solutions to address the growing mobile and OTT customer segments.
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.
Donald McGarva, Chief Executive Officer of Amino Technologies plc, said: “This important acquisition is closely aligned with our stated strategy and vision of the future of entertainment and the major industry shift towards TV viewing anytime, anyplace, anywhere.
“Complementary to our current offering, we will now also be able to provide a new, proven and scalable solution to additional markets both within the mobile space and the wider OTT marketplace. Increasingly, “TV everywhere” is the primary route for new agile operators in launching TV services alongside voice and broadband offerings and we look forward to working with the Booxmedia team in targeting these markets.
“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.”
Jukka Sintonen, CEO of Booxmedia, added: “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.”
Amino Communications is a world leading IPTV and hybrid/OTT innovator – bringing new entertainment products and solutions to a global market.