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Amino Technologies acquires Finland-based Booxmedia Oy in £5.6m deal

Sharecast

LONDON (ShareCast) - Digital entertainment technology company Amino Technologies (LSE: AMO.L - news) has completed the takeover of Finnish cloud-based platform Booxmedia Oy for €7.9m (£5.6m). The London-listed company said the payment will consist of €7.2m in cash and €0.7m in Amino shares, while and additional payment worth €2.6m will be paid based on Booxmedia performance between now and 2017.

In 2014, the Finland-based group generated earnings before interest and tax of €0.2m on revenue of €1.4m.

"This important acquisition is closely aligned with our stated strategy and vision of the future of entertainment and the major industry shift towards TV viewing anytime, anyplace, anywhere," said Amino chief executive Donald McGarva.

Amino shares were flat at 132p at 14:04 on Wednesday.