Amino boosts online video expertise with AssetHouse buy
Tuesday, June 10, 2008
Broadband specialist Amino Technologies has bolstered its internet TV offering by snapping up AssetHouse Technologies Ltd in a £1.4 million debt-free deal.
Software business AssetHouse boasts BT plc as its main customer, and will give Amino a broader range of technologies to offer IPTV service operators of all sizes. The acquisition will also give Amino access to the emerging online video services market.
AssetHouse turned over around £0.4 million last year but posted an operating loss of approximately £1.4 million.
Keith Todd, Amino's chairman, described the deal as the start of the next phase of growth for Amino. “Although currently loss making, we are confident that the acquired business will generate significant incremental profits for the enlarged group,” he said.
“Accordingly, I am pleased to re-iterate the guidance that, including the slightly dilutive effect of the AssetHouse acquisition, we remain confident that Amino will deliver the current market forecast for the year ended 30 November 2008.”
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