CAMBRIDGE, England--Jan. 23, 2006
--Amino Technologies plc (LSE:AMO), the Cambridge based broadband network software and systems company, has acquired SJ Consulting Limited ("SJC") for a total consideration of GBP 1.3 million.
Based in Cambridge, England, SJC is a software company that has developed advanced video codec products such as MPEG4 (H.264) and Windows Media/VC1. The intellectual property for these codec products has been licensed and deployed in an array of set top boxes for several customers including Amino. The company's primary focus is in embedded systems design, particularly for advanced networked equipment using technologies such as MPEG, ATM (Asynchronous Transfer Mode) and wireless Ethernet. SJC also has considerable experience of video-on-demand systems, having participated in the 'leading edge' Cambridge video-on-demand trial.
In the view of Amino's Directors, the performance of SJC's decoding technology is outstanding, enabling the delivery of high performance low-cost single chip MPEG4 (H.264) set top boxes. It will become an important element of Amino's proprietary IntAct IPTV software stack and will be made available to the market under licence or pre-loaded on Amino's AmiNET series of IPTV set top boxes and gateways.
In the year to 31 March 2005, SJC had a turnover of GBP 504,000 and the profit before tax was GBP 166,000. Net assets at completion are expected to be approximately GBP 400,000, the bulk of which is represented by cash and receivables.
An initial cash consideration of GBP 800,000 is being paid on completion of the acquisition and a total of 300,000 Amino ordinary shares will be allotted to the vendors in three equal tranches on the 1st, 2nd and 3rd anniversaries.
Grant Masom, Chairman, commented:
"We believe SJC's technology is one of our industry's best kept secrets. Its addition to our IntAct offering will add significantly to the value of Amino's suite of IPTV software technologies. Amino is also adding a uniquely qualified, experienced group of software and hardware engineers to what is already one of the largest dedicated IPTV development teams."
Amino (www.aminocom.com) is a designer and supplier of electronic systems, software and consultancy, specialising in applications for on-demand video, IPTV (telco triple-play applications) and in-home multimedia distribution. Amino's IntAct(TM) client-side system software provides users with the twin benefits of low cost deployment and rapid time-to-market. The key to these benefits is a software stack with a wide selection of pre-integrated third-party components.
Amino's own range of small, low cost, high functionality set-top boxes and gateways incorporating its IntAct(TM) software is designed for consumer applications in telecommunications and broadcast markets, as well as on-demand systems for hotels and hospitality markets, healthcare, retail and education. Amino also provides systems consultancy and partners with world-leading companies in content aggregation, middleware, conditional access and head-end systems.