Close Brothers Corporate Finance is pleased to announce the completion of Amino Technologies plc’s (“Amino”) acquisition of Tilgin AB’s IPTV set-top box division (“Tilgin IPTV”). Close Brothers acted as financial adviser to Amino. The transaction completed on 1 December 2008.
Background
• Amino designs and supplies software and set-top boxes for the delivery of internet protocol television (“IPTV”), on-demand video and in-home multimedia distribution. These solutions are used by customers in the telecoms, broadcasting and hospitality markets globally. Amino is headquartered in Cambridgeshire, UK and is quoted on the AIM market of the London Stock Exchange with a current market cap of £27.5 million.
• Based in Sweden, Tilgin IPTV offers a range of IPTV set-top boxes within its ‘Mood’ product line and was one of the two divisions of Tilgin AB which is listed on the OMX Nordic Exchange Stockholm.
Process & Outcome
• Close Brothers Corporate Finance, alongside its Nordic associate, Danske Markets Corporate Finance, provided advice and transaction support from initial contact with the target through to announcement of the offer.
• Amino’s acquisition of Tilgin IPTV is a strategically compelling acquisition for Amino, delivering an extended product portfolio with exciting leading-edge features as well as valuable middleware partners and wider customer reach
• Amino expects to enjoy R&D cost synergies that will lead to earnings accretion in the second half of its current financial year.
Stuart Darling, Chief Financial Officer of Amino commented:
“The transaction support delivered by Close Brothers Corporate Finance helped ensure a well-organised process and the insights provided through its local presence were particularly valuable.”
For more information regarding the transaction, please contact Paul Lewington or James Craven on
+44 (0)20 7655 3100.