Amino Technologies possible acquisition of MobiTV

Amino Technologies

Amino Technologies plc (LON:AMO), a software-led global media technology company that delivers modern TV experiences, has this morning announced that it has submitted a bid, through a wholly owned subsidiary, to acquire the trade and assets of MobiTV, Inc. and MobiTV Services Corporation, a US live and on-demand TV platform provider.

About MobiTV

MobiTV is USA based and provides a TV-as-a-Service solution that allows operators to fully modernise their PayTV offering to consumers, reduce costs, utilise network bandwidth more efficiently and to enable the future upgrades of new services and features. The MobiTV solution is a white labelled managed service for a full TV platform, including live and on-demand TV content, network PVR functionality and content rights.

The Possible Acquisition would immediately establish a TVaaS infrastructure capability in the USA for Amino, which the Board of Amino estimate would require significant investment over a 6-12 month period to develop organically. The Possible Acquisition would also provide an immediate contribution towards Amino’s strategic financial goals, in particular its focus on increasing annual recurring revenues. The Possible Acquisition, if completed, would be a Substantial Transaction pursuant to AIM Rule 12.

The Acquisition Process

MobiTV is currently in a Chapter 11 bankruptcy process in the USA, pursuant to which Amino submitted a bid for the trade and assets of MobiTV to the United States Bankruptcy Court for the District of Delaware on 7 May 2021. Whether Amino’s bid is successful will be decided by the Court following an auction process to be held on 11 May 2021.

Once the Auction has been completed, a hearing before the Court to request approval of all aspects of the sale to the winning bidder is scheduled for 21 May 2021 at 2.00pm EST (7pm BST). The acquisition of the trade and assets of MobiTV must close by 31 May 2021.


The costs and working capital commitments associated with the Possible Acquisition are to be funded by the Company’s existing cash resources and available credit facilities, supplemented by a placing of new Ordinary Shares in the Company to institutional and other investors commitments for which have been made by certain shareholders and other investors, subject to customary conditions including, inter alia, admission of the new Ordinary Shares to trading on AIM. 

Amino Technologies state further details of the Possible Acquisition and the Placing will be announced once the outcome of the Auction is known.

Find more news, interviews, share price & company profile here for:
Aferian plc

Good news travels fast (but only if you make that happen):

Share on twitter
Share on linkedin
Share on facebook
Share on email
Share on reddit
Find more news, interviews, share price & company profile here for:
Aferian plc

AIM All Share Index