Amino Technologies plc, the AIM listed set-top box specialist, acquired 87% of 24i Media for €21.4m (or 3.9x revenue).
24i Media provides online video products and services to broadcasters and TV operators, mainly in Europe and North America. The Company employs 140 staff and has previously raised money from Newion Investments and No Such Ventures.
The acquisition is expected to bolster Amino's software capabilities, helping broadcasters and operators deliver TV on any device, as well as accelerate its ongoing push to grow its base of higher margin and recurring software revenues.
BDO provided financial and tax due diligence support and tax structuring advice to Amino Technologies plc on their acquisition of 24i Media.
“Derek and the BDO team were responsive and pragmatic, provided focussed and insightful advice in a short timescale and worked closely with our other advisers.”Mark Carlisle, Group CFO/COO, Amino
“It was great to work with Amino again. This acquisition brings high margin, recurring software revenue to Amino’s amazing customer base.”
Derek Neil, Partner, BDO